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Jim Wassil, the Chief Operating Officer of Vaxcyte, Inc. (NASDAQ:PCVX), recently executed a series of stock transactions, according to a recent SEC filing. The transactions come as the stock has declined 9% over the past week, according to InvestingPro data. On March 3, Wassil sold a total of 8,000 shares of Vaxcyte common stock, generating $586,165. The shares were sold at prices ranging from $73.071 to $73.837.
In addition to the sales, Wassil acquired shares through various transactions. On February 27, he received 21,726 shares of common stock at no cost, and on February 28, he acquired an additional 5,649 shares at $73.02 each. Furthermore, on March 3, Wassil exercised options to acquire 2,638 shares at $2.42 per share and 5,362 shares at $5.35 per share. The company maintains strong financial health with a current ratio of 12.75, indicating robust liquidity.
These transactions were made under a pre-established Rule 10b5-1 trading plan adopted on March 1, 2024, allowing Wassil to sell shares according to a predetermined schedule without violating insider trading laws. Following these transactions, Wassil holds 154,931 shares of Vaxcyte common stock, which currently has a market capitalization of $9.28 billion. Analysts maintain a bullish outlook with price targets ranging from $135 to $163. Get comprehensive insights and 8 additional key ProTips for PCVX with InvestingPro.
In other recent news, Vaxcyte reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of -1.12, which met analysts’ expectations. Despite aligning with forecasts, the company did not provide a revenue forecast for the quarter, and the lack of revenue growth may have contributed to investor concerns. Vaxcyte maintains a strong cash position of $3.13 billion, which supports its ambitious product pipeline, including breakthrough vaccines like VAX31 and VAX24. Mizuho (NYSE:MFG) Securities reiterated its Outperform rating for Vaxcyte, with a price target of $163, indicating confidence in the company’s long-term potential despite recent political challenges. The firm noted that the stock’s recent decline was due to external political factors rather than company performance. Mizuho believes that as macro political concerns diminish, Vaxcyte’s stock is expected to recover. Looking ahead, Vaxcyte plans to release infant primary series data for VAX24 by the first quarter of 2025 and initiate a Phase 3 study for VAX31 by mid-2025, which are key developments for maintaining its competitive edge.
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