Vaxcyte (NASDAQ:PCVX) Price Target Lowered to $90.00 at Needham & Company LLC

Vaxcyte (NASDAQ:PCVX) had its price objective decreased by equities research analysts at Needham & Company LLC from $140.00 to $90.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 138.35% from the stock’s current price.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group started coverage on Vaxcyte in a report on Friday, December 20th. They issued a “buy” rating and a $135.00 price objective for the company. Guggenheim reissued a “buy” rating and issued a $160.00 price target on shares of Vaxcyte in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte currently has an average rating of “Buy” and a consensus target price of $141.25.

Vaxcyte Stock Performance

Shares of PCVX opened at $37.76 on Tuesday. The firm has a fifty day moving average of $79.12 and a 200-day moving average of $91.83. The company has a market cap of $4.86 billion, a price-to-earnings ratio of -8.21 and a beta of 1.02. Vaxcyte has a 1 year low of $30.12 and a 1 year high of $121.06.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($1.02) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.14. Analysts predict that Vaxcyte will post -4.21 EPS for the current year.

Insider Activity

In related news, COO Jim Wassil sold 8,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $83.66, for a total transaction of $669,280.00. Following the completion of the transaction, the chief operating officer now owns 205,695 shares of the company’s stock, valued at $17,208,443.70. This trade represents a 3.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Teri Loxam sold 6,250 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total transaction of $531,937.50. Following the completion of the sale, the director now directly owns 7,175 shares of the company’s stock, valued at $610,664.25. The trade was a 46.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,250 shares of company stock worth $3,840,018. 3.10% of the stock is owned by company insiders.

Institutional Trading of Vaxcyte

A number of large investors have recently added to or reduced their stakes in PCVX. Vanguard Group Inc. increased its holdings in shares of Vaxcyte by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company’s stock valued at $979,184,000 after buying an additional 521,204 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Vaxcyte by 23.1% in the 3rd quarter. Janus Henderson Group PLC now owns 10,921,896 shares of the company’s stock worth $1,247,954,000 after acquiring an additional 2,052,989 shares during the last quarter. RA Capital Management L.P. raised its position in shares of Vaxcyte by 5.9% during the third quarter. RA Capital Management L.P. now owns 8,689,190 shares of the company’s stock worth $992,914,000 after purchasing an additional 485,436 shares during the period. Capital Research Global Investors lifted its holdings in shares of Vaxcyte by 26.8% during the fourth quarter. Capital Research Global Investors now owns 6,210,523 shares of the company’s stock valued at $508,393,000 after purchasing an additional 1,312,302 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Vaxcyte by 1.1% in the 3rd quarter. State Street Corp now owns 3,405,743 shares of the company’s stock valued at $389,174,000 after purchasing an additional 38,596 shares during the period. 96.78% of the stock is currently owned by 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.