The Goldman Sachs Group Lowers Vaxcyte (NASDAQ:PCVX) Price Target to $100.00

Vaxcyte (NASDAQ:PCVX) had its price objective decreased by stock analysts at The Goldman Sachs Group from $138.00 to $100.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 186.58% from the company’s current price.

Other equities analysts also recently issued reports about the company. Bank of America lowered 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. Guggenheim restated a “buy” rating and issued a $160.00 price target on shares of Vaxcyte in a research report on Wednesday, March 12th. Finally, Needham & Company LLC decreased their price objective on shares of Vaxcyte from $140.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte currently has a consensus rating of “Buy” and an average price target of $136.50.

Vaxcyte Price Performance

NASDAQ PCVX traded down $2.87 during trading hours on Tuesday, reaching $34.89. The company’s stock had a trading volume of 3,156,297 shares, compared to its average volume of 1,041,445. The firm has a fifty day simple moving average of $79.12 and a 200-day simple moving average of $91.83. Vaxcyte has a 52 week low of $30.12 and a 52 week high of $121.06. The stock has a market cap of $4.49 billion, a P/E ratio of -7.63 and a beta of 1.02.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.14. On average, research analysts expect that Vaxcyte will post -4.21 earnings per share for the current year.

Insider Activity at Vaxcyte

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $86.51, for a total value of $692,080.00. Following the transaction, the chief financial officer now owns 109,491 shares in the company, valued at approximately $9,472,066.41. This represents a 6.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teri Loxam sold 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 directly owns 7,175 shares of the company’s stock, valued at $610,664.25. This trade represents a 46.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,250 shares of company stock worth $3,840,018 in the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Whipplewood Advisors LLC bought a new position in Vaxcyte in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC raised its stake in shares of Vaxcyte by 188.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 260 shares during the last quarter. National Bank of Canada FI bought a new position in shares of Vaxcyte in the fourth quarter valued at approximately $41,000. Blue Trust Inc. boosted its position in shares of Vaxcyte by 100.0% during the fourth quarter. Blue Trust Inc. now owns 742 shares of the company’s stock valued at $61,000 after buying an additional 371 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Vaxcyte by 77,500.0% during the fourth quarter. Assetmark Inc. now owns 776 shares of the company’s stock worth $64,000 after buying an additional 775 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.