SAN CARLOS, CA – Vaxcyte, Inc. (NASDAQ:PCVX) has reported a recent transaction involving the company's SVP, General Counsel & Corporate Secretary, Mikhail Eydelman. According to the latest SEC filing, Eydelman sold a total of 1,667 shares of common stock at prices ranging from $71.251 to $73.637, amounting to over $120,127 in total.
The transactions took place on June 3, 2024, and were carried out under a pre-arranged trading plan known as Rule 10b5-1, which allows company insiders to sell stock at predetermined times to avoid any accusations of insider trading. This plan had been adopted almost a year prior, on June 29, 2023.
The sales were executed in three separate transactions with varying numbers of shares and weighted-average prices. The first batch of 751 shares was sold at an average price of $71.251, with the actual prices ranging from $70.98 to $71.62. The second sale consisted of 656 shares at an average price of $72.366, with individual sale prices between $72.08 and $72.67. The final sale was of 260 shares at an average price of $73.637, with a price range from $73.46 to $73.82.
In addition to these sales, Eydelman also acquired 1,667 shares of Vaxcyte's common stock at a price of $21.41 per share. Following these transactions, Eydelman's direct ownership in the company stands at 31,161 shares of common stock.
It's worth noting that the SEC filing also includes a footnote indicating that Eydelman's total holdings include 564 shares acquired under the company's Employee Stock Purchase Plan on May 17, 2024.
Vaxcyte, Inc. is a biotechnology company specializing in biological products, with a focus on developing vaccines to prevent infectious diseases. The company is based in San Carlos, California, and continues to be a notable name in the life sciences sector.
Investors and followers of Vaxcyte will likely keep an eye on insider transactions as they can provide insights into the executives' perspectives on the company's current valuation and future prospects.
InvestingPro Insights
As Vaxcyte, Inc. (NASDAQ:PCVX) navigates the competitive biotechnology landscape, the company's financial health and market performance are crucial for investors monitoring insider transactions. According to InvestingPro data, Vaxcyte holds a market capitalization of approximately $7.72 billion, with a notable price uptick of 32.08% over the last six months, indicating a robust investor confidence in the stock's potential.
Despite recent insider sales, Vaxcyte's financial position reveals some strengths, such as holding more cash than debt on its balance sheet, which is a reassuring sign for investors concerned about the company's solvency. Moreover, the company's liquid assets exceed its short-term obligations, providing a cushion for operational needs or unexpected expenses. These metrics are in line with the first and third InvestingPro Tips, which highlight the company's liquidity and cash position.
However, Vaxcyte's challenges are also reflected in its financial metrics, with a negative gross profit of $75 million in the last twelve months as of Q1 2024, aligning with the second InvestingPro Tip that points to weak gross profit margins. Additionally, the company's P/E ratio stands at -17.3, and analysts do not anticipate Vaxcyte to be profitable this year, which could be a concern for potential investors looking for near-term profitability.
For those interested in a deeper analysis, there are additional InvestingPro Tips available that could further inform investment decisions. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription for more insights.
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