Needham & Company LLC Reaffirms Buy Rating for Vaxcyte (NASDAQ:PCVX)

Vaxcyte (NASDAQ:PCVX)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $14.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential downside of 83.71% from the company’s current price.

A number of other research analysts have also recently weighed in on PCVX. Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. The Goldman Sachs Group assumed coverage on Vaxcyte in a report on Friday, December 20th. They set a “buy” rating and a $135.00 price target on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte has a consensus rating of “Buy” and an average price target of $127.71.

Vaxcyte Price Performance

NASDAQ PCVX opened at $85.94 on Tuesday. The company has a market cap of $10.71 billion, a P/E ratio of -18.68 and a beta of 0.98. The stock has a 50-day moving average of $86.92 and a two-hundred day moving average of $94.56. Vaxcyte has a 1-year low of $58.10 and a 1-year high of $121.06.

Insider Buying and Selling at Vaxcyte

In related news, SVP Mikhail Eydelman sold 5,000 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $91.49, for a total value of $457,450.00. Following the transaction, the senior vice president now directly owns 28,697 shares of the company’s stock, valued at $2,625,488.53. This trade represents a 14.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Teri Loxam sold 6,250 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total transaction of $531,937.50. Following the completion of the sale, the director now directly owns 7,175 shares of the company’s stock, valued at approximately $610,664.25. This trade represents a 46.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,616 shares of company stock worth $6,095,681 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Vaxcyte

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning grew its stake in Vaxcyte by 37.6% during the 3rd quarter. Creative Planning now owns 37,525 shares of the company’s stock worth $4,288,000 after buying an additional 10,245 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Vaxcyte in the third quarter valued at approximately $27,000. Blue Trust Inc. grew its position in shares of Vaxcyte by 33.5% during the third quarter. Blue Trust Inc. now owns 371 shares of the company’s stock worth $42,000 after acquiring an additional 93 shares during the last quarter. Raymond James & Associates raised its position in Vaxcyte by 17.0% in the 3rd quarter. Raymond James & Associates now owns 81,235 shares of the company’s stock valued at $9,283,000 after purchasing an additional 11,798 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Vaxcyte by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 347,474 shares of the company’s stock valued at $39,706,000 after purchasing an additional 3,922 shares during the last quarter. Institutional investors and hedge funds 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.