Cantor Fitzgerald Begins Coverage on Vaxcyte (NASDAQ:PCVX)

Research analysts at Cantor Fitzgerald started coverage on shares of Vaxcyte (NASDAQ:PCVX) in a report issued on Tuesday, Marketbeat reports. The firm set an “overweight” rating on the stock.

Several other equities analysts have also recently commented on PCVX. Guggenheim reiterated a “buy” rating and set a $160.00 target price on shares of Vaxcyte in a research note on Wednesday, March 12th. The Goldman Sachs Group reduced their target price on shares of Vaxcyte from $138.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Evercore ISI upgraded Vaxcyte to a “strong-buy” rating in a research note on Monday, March 31st. Bank of America reduced their price objective on Vaxcyte from $157.00 to $137.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Vaxcyte in a research report on Tuesday, April 8th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $136.50.

Vaxcyte Trading Up 6.1 %

NASDAQ:PCVX opened at $33.16 on Tuesday. The firm has a market capitalization of $4.27 billion, a PE ratio of -7.21 and a beta of 1.26. Vaxcyte has a 1 year low of $27.66 and a 1 year high of $121.06. The firm’s fifty day simple moving average is $57.55 and its 200 day simple moving average is $81.39.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.14. As a group, analysts anticipate that Vaxcyte will post -4.21 EPS for the current fiscal year.

Insider Activity at Vaxcyte

In other news, CFO Andrew Guggenhime sold 8,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $83.85, for a total value of $670,800.00. Following the sale, the chief financial officer now owns 109,491 shares in the company, valued at approximately $9,180,820.35. The trade was a 6.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 24,000 shares of company stock valued at $1,946,720 in the last 90 days. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vaxcyte

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Vaxcyte by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company’s stock worth $979,184,000 after buying an additional 521,204 shares in the last quarter. Capital Research Global Investors grew its position in Vaxcyte by 26.8% during the 4th quarter. Capital Research Global Investors now owns 6,210,523 shares of the company’s stock worth $508,393,000 after acquiring an additional 1,312,302 shares during the last quarter. Franklin Resources Inc. increased its holdings in Vaxcyte by 3.0% during the 4th quarter. Franklin Resources Inc. now owns 2,869,332 shares of the company’s stock valued at $234,884,000 after purchasing an additional 82,997 shares in the last quarter. Geode Capital Management LLC raised its position in Vaxcyte by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 2,802,888 shares of the company’s stock valued at $229,495,000 after purchasing an additional 102,106 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Vaxcyte by 8.1% in the fourth quarter. Alliancebernstein L.P. now owns 1,779,362 shares of the company’s stock worth $145,659,000 after purchasing an additional 133,448 shares in the last quarter. 96.78% of the stock is 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.