Vaxcyte (NASDAQ:PCVX) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Vaxcyte (NASDAQ:PCVX) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “Vaxcyte Inc.is a biopharmaceutical company develops vaccines for infectious diseases. It offers conjugate, pneumococcal conjugate and complex antigen-based vaccines. Vaxcyte Inc.is based in Foster City, California. “

NASDAQ:PCVX opened at $25.36 on Wednesday. The business’s 50-day moving average is $24.24 and its two-hundred day moving average is $22.43. Vaxcyte has a 12 month low of $15.51 and a 12 month high of $58.47. The firm has a market capitalization of $1.32 billion, a PE ratio of -15.01 and a beta of 0.49.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings data on Wednesday, August 11th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.06. On average, research analysts predict that Vaxcyte will post -2.1 EPS for the current fiscal year.

In related news, General Counsel Jane Wright-Mitchell sold 2,500 shares of Vaxcyte stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $26.00, for a total value of $65,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Grant Pickering sold 13,863 shares of Vaxcyte stock in a transaction dated Thursday, June 24th. The stock was sold at an average price of $23.09, for a total value of $320,096.67. Following the completion of the transaction, the chief executive officer now owns 594,117 shares of the company’s stock, valued at $13,718,161.53. The disclosure for this sale can be found here. Insiders have sold 70,345 shares of company stock valued at $1,666,120 over the last 90 days. Insiders own 21.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. bought a new stake in shares of Vaxcyte during the second quarter valued at approximately $45,000. Royal Bank of Canada raised its holdings in shares of Vaxcyte by 434.1% during the first quarter. Royal Bank of Canada now owns 2,804 shares of the company’s stock valued at $56,000 after buying an additional 2,279 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Vaxcyte by 32.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,117 shares of the company’s stock valued at $70,000 after buying an additional 761 shares during the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Vaxcyte during the first quarter valued at approximately $75,000. Finally, Legal & General Group Plc raised its holdings in shares of Vaxcyte by 13.4% during the second quarter. Legal & General Group Plc now owns 4,132 shares of the company’s stock valued at $93,000 after buying an additional 489 shares during the last quarter. Institutional investors own 82.86% of the company’s stock.

Vaxcyte Company Profile

Vaxcyte, Inc, a preclinical-stage biotechnology vaccine company, develops novel vaccines to prevent or treat infectious diseases worldwide. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine. The company also develops VAX-XP to protect against emerging strains and address antibiotic resistance; VAX-A1, a conjugate vaccine candidate designed to treat Group A Strep; and VAX-PG, a novel protein vaccine candidate targeting Porphyromonas gingivalis.

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