Vaxcyte (NASDAQ:PCVX) Posts Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Vaxcyte (NASDAQ:PCVX) issued its quarterly earnings data on Wednesday. The company reported ($0.85) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.28, Briefing.com reports.

Vaxcyte Price Performance

Shares of NASDAQ:PCVX traded down $1.28 on Thursday, hitting $65.51. 673,284 shares of the company’s stock were exchanged, compared to its average volume of 806,649. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of -15.80 and a beta of 0.94. Vaxcyte has a 12 month low of $44.20 and a 12 month high of $82.04. The business’s 50 day simple moving average is $66.14 and its two-hundred day simple moving average is $62.45.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PCVX shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vaxcyte in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Vaxcyte in a research note on Thursday. Four analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $78.50.

Insider Transactions at Vaxcyte

In other news, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $61.27, for a total transaction of $490,160.00. Following the transaction, the chief financial officer now owns 95,679 shares in the company, valued at $5,862,252.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $61.92, for a total transaction of $928,800.00. Following the transaction, the chief executive officer now owns 477,847 shares in the company, valued at $29,588,286.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $61.27, for a total value of $490,160.00. Following the completion of the transaction, the chief financial officer now owns 95,679 shares of the company’s stock, valued at approximately $5,862,252.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,294 shares of company stock valued at $4,254,105. 3.10% of the stock is currently owned by company insiders.

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.