Cantor Fitzgerald Reaffirms “Overweight” Rating for Vaxcyte (NASDAQ:PCVX)

Cantor Fitzgerald restated their overweight rating on shares of Vaxcyte (NASDAQ:PCVX) in a report released on Thursday, Benzinga reports.

Separately, Needham & Company LLC reissued a buy rating and issued a $95.00 target price on shares of Vaxcyte in a research note on Thursday, May 9th.

Vaxcyte Stock Up 3.0 %

Shares of Vaxcyte stock opened at $74.94 on Thursday. Vaxcyte has a 12 month low of $44.20 and a 12 month high of $82.04. The stock has a market cap of $8.15 billion, a PE ratio of -17.51 and a beta of 0.97. The business has a fifty day simple moving average of $68.17 and a 200 day simple moving average of $67.35.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.28. Analysts expect that Vaxcyte will post -3.96 EPS for the current fiscal year.

Insider Activity

In other news, CFO Andrew Guggenhime sold 8,000 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $61.27, for a total value of $490,160.00. Following the sale, the chief financial officer now directly owns 95,679 shares in the company, valued at $5,862,252.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Andrew Guggenhime sold 8,000 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $61.27, for a total value of $490,160.00. Following the sale, the chief financial officer now directly owns 95,679 shares in the company, valued at $5,862,252.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Grant Pickering sold 2,616 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $72.06, for a total value of $188,508.96. Following the completion of the sale, the chief executive officer now owns 144,746 shares in the company, valued at $10,430,396.76. The disclosure for this sale can be found here. Insiders have sold a total of 71,483 shares of company stock worth $4,913,533 over the last three months. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Vaxcyte

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in Vaxcyte by 1,005.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,603 shares of the company’s stock worth $1,419,000 after acquiring an additional 20,558 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in Vaxcyte during the fourth quarter worth about $3,035,000. Natixis Advisors L.P. bought a new stake in Vaxcyte during the fourth quarter worth about $881,000. Vestal Point Capital LP bought a new stake in Vaxcyte during the fourth quarter worth about $32,970,000. Finally, TD Asset Management Inc raised its stake in Vaxcyte by 10.5% in the fourth quarter. TD Asset Management Inc now owns 167,036 shares of the company’s stock valued at $10,490,000 after buying an additional 15,890 shares during the period. Institutional investors own 96.78% 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.