Vaxcyte’s (PCVX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a report issued on Tuesday morning,Benzinga reports. They currently have a $14.00 price objective on the stock.

A number of other brokerages also recently issued reports on PCVX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vaxcyte in a research note on Wednesday, November 6th. The Goldman Sachs Group initiated coverage on Vaxcyte in a research note on Friday, December 20th. They set a “buy” rating and a $135.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $127.71.

Vaxcyte Stock Down 1.8 %

Vaxcyte stock opened at $83.84 on Tuesday. The business has a 50-day simple moving average of $86.67 and a two-hundred day simple moving average of $94.50. The company has a market cap of $10.45 billion, a P/E ratio of -18.23 and a beta of 0.98. Vaxcyte has a 52-week low of $58.10 and a 52-week high of $121.06.

Insider Buying and Selling

In related news, COO Jim Wassil sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $86.22, for a total value of $689,760.00. Following the transaction, the chief operating officer now directly owns 205,695 shares of the company’s stock, valued at approximately $17,735,022.90. The trade was a 3.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Grant Pickering sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $92.45, for a total value of $1,386,750.00. Following the completion of the transaction, the chief executive officer now directly owns 450,301 shares in the company, valued at approximately $41,630,327.45. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,616 shares of company stock valued at $6,095,681. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Vaxcyte

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Vaxcyte by 33.5% during the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Vaxcyte by 5.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,209 shares of the company’s stock worth $252,000 after acquiring an additional 110 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Vaxcyte by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 3,136 shares of the company’s stock worth $358,000 after acquiring an additional 110 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Vaxcyte during the 3rd quarter worth approximately $27,000. Finally, Smartleaf Asset Management LLC raised its holdings in Vaxcyte by 188.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 398 shares of the company’s stock valued at $33,000 after buying an additional 260 shares during the period. 96.78% of the stock is owned by hedge funds and other institutional investors.

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.