BOJ keeps interest rates flat, but flags rate hikes on rising inflation, GDP
Vaxcyte, Inc. (NASDAQ:PCVX), a $10.6 billion biotech company, saw its Chief Operating Officer Jim Wassil recently sell shares of the company's common stock, totaling $669,266. The transactions, which took place on January 2, 2025, involved the sale of 8,000 shares at prices ranging from $82.877 to $84.431. According to InvestingPro data, the stock currently trades near its 52-week high of $121.06, with analysts maintaining a strong buy consensus.
In addition to the sales, Wassil exercised stock options to acquire 8,000 shares at a price of $2.42 per share. Following these transactions, Wassil holds 205,695 shares of Vaxcyte directly. The sales were conducted under a Rule 10b5-1 trading plan, which was adopted on March 1, 2024. While the company maintains strong liquidity with a current ratio of 17.9x, InvestingPro subscribers can access additional financial health metrics and 8 more key insights about Vaxcyte's future prospects.
In other recent news, Vaxcyte has been attracting attention with its robust financial performance and promising clinical data. Goldman Sachs initiated coverage on Vaxcyte with a Buy rating, citing strong clinical data for its lead programs and a positive outlook for the company's future. The firm also highlighted the upcoming data for VAX-24 in the infant/pediatric population expected in the first quarter of 2025 as a potential catalyst.
Vaxcyte has also expanded its corporate headquarters in San Carlos, California, and subleased a portion of its space to Iovance Biotherapeutics (NASDAQ:IOVA), Inc. Furthermore, the company's pneumococcal conjugate vaccine candidate, VAX-31, has been cleared by the U.S. Food and Drug Administration for use in infants and adults, with plans to initiate Phase 2 and Phase 3 studies by early and mid-2025 respectively.
The company successfully completed a public offering, raising approximately $1.5 billion, managed by financial institutions such as BofA Securities, Jefferies, and Goldman Sachs & Co. LLC. This led to a positive response from analysts, with Jefferies, Leerink Partners, BTIG, and Mizuho (NYSE:MFG) increasing their price targets for Vaxcyte.
Vaxcyte reported operational expenses of $140 million and a cash balance of $3.3 billion as of September 30. Lastly, the company announced the appointment of John P. Furey to its Board of Directors. These are the recent developments for Vaxcyte.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.