Vaxcyte (NASDAQ:PCVX) Stock Price Up 8.7% – Time to Buy?

Vaxcyte, Inc. (NASDAQ:PCVX) shares shot up 8.7% during mid-day trading on Friday . The stock traded as high as $49.48 and last traded at $49.5180. 807,326 shares changed hands during trading, a decline of 54% from the average session volume of 1,755,207 shares. The stock had previously closed at $45.55.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PCVX. Cowen reiterated a “buy” rating on shares of Vaxcyte in a report on Thursday, August 7th. The Goldman Sachs Group initiated coverage on Vaxcyte in a research note on Friday, September 12th. They set a “neutral” rating and a $38.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a research note on Tuesday, October 14th. Finally, BTIG Research reiterated a “buy” rating and issued a $85.00 price objective on shares of Vaxcyte in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

Vaxcyte Stock Up 8.6%

The firm has a market cap of $6.48 billion, a price-to-earnings ratio of -10.19 and a beta of 1.07. The business has a 50 day moving average price of $39.17 and a 200-day moving average price of $35.33.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.29). During the same period in the previous year, the company posted ($0.83) earnings per share. Research analysts anticipate that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vaxcyte

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in Vaxcyte by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company’s stock valued at $112,000 after acquiring an additional 293 shares during the period. HighVista Strategies LLC raised its holdings in shares of Vaxcyte by 1.1% in the second quarter. HighVista Strategies LLC now owns 33,457 shares of the company’s stock valued at $1,088,000 after buying an additional 355 shares during the last quarter. US Bancorp DE lifted its position in Vaxcyte by 7.2% during the 1st quarter. US Bancorp DE now owns 5,344 shares of the company’s stock worth $202,000 after buying an additional 357 shares in the last quarter. Xponance Inc. increased its position in Vaxcyte by 4.7% in the 1st quarter. Xponance Inc. now owns 9,320 shares of the company’s stock valued at $352,000 after acquiring an additional 415 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Vaxcyte by 1.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,635 shares of the company’s stock worth $1,119,000 after purchasing an additional 436 shares in the last quarter. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Company Profile

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.