Mikhail Eydelman, Senior Vice President and General Counsel at Vaxcyte, Inc. (NASDAQ:PCVX), a company with a market capitalization of $10.89 billion, recently executed a series of stock transactions involving the company’s common stock. On January 6, Eydelman sold a total of 5,000 shares for approximately $427,922. The shares were sold at prices ranging from $84.856 to $86.52, according to the SEC filing. The stock has shown remarkable strength, delivering a 43.82% return over the past year. InvestingPro analysis suggests the stock is currently trading above its Fair Value.
In addition to the sales, Eydelman exercised stock options to acquire 5,000 shares at a price of $21.41 per share, valued at $107,050. Following these transactions, Eydelman holds 28,222 shares directly. The sales were conducted under a pre-established Rule 10b5-1 trading plan adopted on June 11, 2024. According to InvestingPro data, analyst price targets for PCVX range from $135 to $163, with additional insights and financial metrics available to subscribers.
In other recent news, Vaxcyte has been making significant strides in its operations and research. 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. Furthermore, Vaxcyte has completed a public offering, raising approximately $1.5 billion, managed by financial institutions such as BofA Securities, Jefferies, and Goldman Sachs & Co. LLC.
Vaxcyte has also expanded its corporate headquarters in San Carlos, California, and subleased a portion of its space to Iovance Biotherapeutics (NASDAQ:), Inc. Analysts from firms such as Goldman Sachs, Jefferies, Leerink Partners, BTIG, and Mizuho (NYSE:) have provided positive feedback, with price targets for Vaxcyte ranging from $135 to $163.
The company reported operational expenses of $140 million and a cash balance of $3.3 billion as of September 30. Finally, Vaxcyte has announced the appointment of John P. Furey to its Board of Directors. These are the recent developments for Vaxcyte.
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