Vaxcyte (NASDAQ:PCVX) Releases Quarterly Earnings Results, Misses Estimates By $0.29 EPS

Vaxcyte (NASDAQ:PCVX) reported quarterly earnings of ($1.56) EPS, missing estimates by $0.29. The company had a one-year low of $27.66 and a high of $116.00, with a market cap of $5.37 billion. Analysts have mixed ratings, with one Strong Buy, five Buy, one Hold, and one Sell. Institutional investors own 96.78% of the stock. Vaxcyte focuses on developing novel protein vaccines for bacterial diseases, including its lead candidate VAX-24 for pneumococcal disease.

Vaxcyte (NASDAQ:PCVX - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.29), Zacks reports. During the same quarter in the previous year, the company earned ($0.83) earnings per share.

Vaxcyte Price Performance

NASDAQ:PCVX opened at $41.35 on Wednesday. Vaxcyte has a one year low of $27.66 and a one year high of $116.00. The business has a fifty day moving average price of $37.46 and a 200-day moving average price of $34.83. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of -10.06 and a beta of 1.07.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. The Goldman Sachs Group started coverage on shares of Vaxcyte in a research note on Friday, September 12th. They set a "neutral" rating and a $38.00 target price on the stock. Cowen reiterated a "buy" rating on shares of Vaxcyte in a research note on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vaxcyte in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Vaxcyte currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.25.

Get Our Latest Report on PCVX

Institutional Trading of Vaxcyte

Several hedge funds have recently bought and sold shares of PCVX. Qube Research & Technologies Ltd bought a new position in Vaxcyte in the 2nd quarter worth approximately $26,318,000. State Street Corp lifted its holdings in shares of Vaxcyte by 12.1% in the second quarter. State Street Corp now owns 4,942,235 shares of the company's stock worth $160,672,000 after buying an additional 534,552 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Vaxcyte by 36.9% in the second quarter. Bank of America Corp DE now owns 1,082,671 shares of the company's stock worth $35,198,000 after buying an additional 291,859 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Vaxcyte by 175.9% during the second quarter. BNP Paribas Financial Markets now owns 139,124 shares of the company's stock worth $4,523,000 after acquiring an additional 88,692 shares during the last quarter. Finally, Engineers Gate Manager LP grew its stake in Vaxcyte by 66.3% during the second quarter. Engineers Gate Manager LP now owns 160,808 shares of the company's stock valued at $5,228,000 after acquiring an additional 64,111 shares in the last quarter. Institutional investors own 96.78% of the company's stock.

Vaxcyte Company Profile

(Get Free Report)

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.

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