Vaxcyte (NASDAQ:PCVX) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Vaxcyte (NASDAQ:PCVX) released its quarterly earnings results on Wednesday. The company reported ($1.99) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.11) by $0.12, FiscalAI reports.

Vaxcyte Stock Up 8.0%

PCVX traded up $4.87 during trading on Wednesday, reaching $65.68. The company had a trading volume of 2,257,729 shares, compared to its average volume of 1,640,697. The stock has a market cap of $9.77 billion, a P/E ratio of -8.61 and a beta of 1.31. The business has a 50 day simple moving average of $61.55 and a 200-day simple moving average of $57.07. Vaxcyte has a 52 week low of $39.87 and a 52 week high of $90.75.

Insider Transactions at Vaxcyte

In related news, CAO Elvia Cowan sold 3,000 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $60.92, for a total transaction of $182,760.00. Following the completion of the transaction, the chief accounting officer owned 27,860 shares in the company, valued at $1,697,231.20. The trade was a 9.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jim Wassil sold 2,250 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $60.90, for a total transaction of $137,025.00. Following the completion of the transaction, the executive vice president directly owned 145,435 shares in the company, valued at $8,856,991.50. This represents a 1.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 50,692 shares of company stock worth $4,032,875 over the last three months. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PCVX. Cantor Fitzgerald restated an “overweight” rating and set a $120.00 target price on shares of Vaxcyte in a research note on Monday, October 12th. BTIG Research reissued a “buy” rating and issued a $89.00 price objective on shares of Vaxcyte in a research note on Monday, October 5th. Guggenheim increased their price objective on shares of Vaxcyte from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Wall Street Zen upgraded shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Bank of America lowered their target price on shares of Vaxcyte from $133.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, September 28th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.50.

About Vaxcyte

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing vaccines designed to protect against serious bacterial diseases. The company is headquartered in San Carlos, California, and uses its proprietary cell-free protein synthesis and conjugation technologies to develop vaccine candidates intended to provide broad and durable immune protection.

Vaxcyte’s lead programs target pneumococcal disease, an infection caused by Streptococcus pneumoniae.