Vaxcyte (NASDAQ:PCVX) Posts Earnings Results, Beats Estimates By $0.14 EPS

Vaxcyte (NASDAQ:PCVX) issued its quarterly earnings data on Tuesday. The company reported ($1.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.14, Zacks reports.

Vaxcyte Stock Performance

PCVX stock traded down $2.05 during mid-day trading on Thursday, hitting $76.60. The company had a trading volume of 254,095 shares, compared to its average volume of 1,077,750. The firm has a market cap of $9.55 billion, a PE ratio of -16.62 and a beta of 0.98. Vaxcyte has a 12 month low of $58.10 and a 12 month high of $121.06. The stock’s fifty day moving average price is $85.10 and its two-hundred day moving average price is $94.88.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PCVX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. Guggenheim reiterated a “buy” rating and set a $160.00 price objective on shares of Vaxcyte in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Vaxcyte in a report on Wednesday. Finally, The Goldman Sachs Group started coverage on shares of Vaxcyte in a research report on Friday, December 20th. They set a “buy” rating and a $135.00 price target on the stock. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $147.50.

Insiders Place Their Bets

In other news, CEO Grant Pickering sold 2,366 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $92.25, for a total value of $218,263.50. Following the sale, the chief executive officer now owns 136,215 shares of the company’s stock, valued at $12,565,833.75. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jim Wassil sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $83.66, for a total transaction of $669,280.00. Following the completion of the sale, the chief operating officer now directly owns 205,695 shares in the company, valued at approximately $17,208,443.70. This trade represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,616 shares of company stock valued at $6,766,481. Company insiders own 3.10% of the company’s stock.

About Vaxcyte

Vaxcyte, Inc, a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease. The company also develops VAX-31 to protect against emerging strains and to help address antibiotic resistance; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting keystone pathogen responsible for periodontitis; and VAX-GI to prevent Shigella, a bacterial illness.