Mikhail Eydelman, Senior Vice President and General Counsel at Vaxcyte, Inc. (NASDAQ:PCVX), a $10.89B market cap company, has recently conducted 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. Shares were sold at prices ranging from $84.856 to $86.52, according to the SEC filing. The stock has shown incredible strength, returning 43.82% over the past year. InvestingPro analysis suggests that the stock is currently trading above its fair value.
In addition to the sale, Eydelman exercised stock options to purchase 5,000 shares at $21.41 per share, valued at $107,050. Following these transactions, Eydelman directly holds 28,222 shares. The sale was carried out according to the predetermined trading plan of Rule 10b5-1 adopted on June 11, 2024. According to InvestingPro data, analyst price targets for PCVX range from $135 to $163, with additional insights and financials available to subscribers.
In other recent news, Vaxcyte has made significant strides in its work and research. The company’s pneumococcal conjugate vaccine candidate, VAX-31, has been approved by the US 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 completed a public offering, raising approximately $1.5 billion, managed by financial institutions such as BofA Securities, Jefferies and Goldman Sachs & Co. LLC.
Vaxcyte also expanded its corporate headquarters in San Carlos, California and leased a portion of its space to Iovance Biotherapeutics (NASDAQ:), Inc. Analysts from companies such as Goldman Sachs, Jefferies, Leerink Partners, BTIG and Mizuho (NYSE: ) gave positive feedback, with a price target for Vaxcyte ranging from $135 to $163.
The company reported operating expenses of $140 million and a cash balance of $3.3 billion as of Sept. 30. Finally, Vaxcyte announced the appointment of John P. Furey to its Board of Directors. These are the latest developments for Vaxcyte.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
