Vaxcyte (NASDAQ:PCVX) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $14.00 target price on the stock.

PCVX has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a research report on Wednesday, November 6th. The Goldman Sachs Group started coverage on shares of Vaxcyte in a research note on Friday, December 20th. They issued a “buy” rating and a $135.00 target price on the stock. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vaxcyte has a consensus rating of “Buy” and a consensus price target of $127.71.

Vaxcyte Stock Performance

PCVX opened at $85.13 on Tuesday. The company has a market cap of $10.61 billion, a PE ratio of -18.51 and a beta of 0.98. The stock has a 50-day moving average of $86.92 and a 200-day moving average of $94.56. Vaxcyte has a 52-week low of $58.10 and a 52-week high of $121.06.

Insider Activity at Vaxcyte

In other Vaxcyte news, COO Jim Wassil sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $92.49, for a total value of $739,920.00. Following the completion of the transaction, the chief operating officer now owns 205,695 shares of the company’s stock, valued at $19,024,730.55. This represents a 3.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teri Loxam sold 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total value of $531,937.50. Following the completion of the sale, the director now owns 7,175 shares of the company’s stock, valued at $610,664.25. This represents a 46.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,616 shares of company stock worth $6,095,681 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vaxcyte

Several institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its position in shares of Vaxcyte by 23.1% during the 3rd quarter. Janus Henderson Group PLC now owns 10,921,896 shares of the company’s stock valued at $1,247,954,000 after acquiring an additional 2,052,989 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Vaxcyte by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company’s stock valued at $979,184,000 after purchasing an additional 521,204 shares in the last quarter. RA Capital Management L.P. grew its stake in shares of Vaxcyte by 5.9% in the 3rd quarter. RA Capital Management L.P. now owns 8,689,190 shares of the company’s stock valued at $992,914,000 after purchasing an additional 485,436 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Vaxcyte by 47.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,837 shares of the company’s stock worth $148,075,000 after buying an additional 419,600 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Vaxcyte during the 3rd quarter worth approximately $41,114,000. 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.