Thursday, 18 April 2024
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Vaxcyte CEO sells over $174k in company stock By Investing.com

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Vaxcyte, Inc. (NASDAQ:PCVX) CEO Grant Pickering has sold a portion of his company stock, according to a recent filing with the Securities and Exchange Commission. The transactions, which occurred on April 1, 2024, involved the sale of company shares at prices ranging from $66.447 to $68.1, with a total value of approximately $174,501.

The sales were conducted under a Rule 10b5-1 trading plan, which was adopted on June 26, 2023. Such plans allow company insiders to establish pre-planned transactions at a time when they are not in possession of material, non-public information. The prices reported are weighted averages, and the specific number of shares sold at each price within the range can be provided upon request by the SEC, the issuer, or a security holder of the issuer.

Following the transactions, the shares were reported to be indirectly owned by trusts for the benefit of Pickering’s children. The CEO’s holdings in Vaxcyte remain substantial, even after these sales, reflecting continued investment in the company’s future.

Vaxcyte, based in San Carlos, California, operates in the biological products industry, excluding diagnostic substances. The company, formerly known as SutroVax, Inc., has been incorporated in Delaware and has a fiscal year ending on December 31.

Investors often monitor insider transactions, such as sales or purchases of company stock, for insights into executive sentiment regarding the firm’s prospects. While the sale of stock by an insider can have a variety of motivations, it is one of many factors that shareholders may consider when assessing their investment in a company.

InvestingPro Insights

In light of the recent insider transactions at Vaxcyte, Inc. (NASDAQ:PCVX), current and potential investors may find additional context from real-time data and insights provided by InvestingPro. As of the latest metrics, Vaxcyte boasts a market capitalization of $7.06 billion, which reflects the market’s valuation of the company. Despite a challenging profitability outlook, with analysts not expecting the company to be profitable this year, Vaxcyte’s financial health appears robust in certain areas. The company holds more cash than debt on its balance sheet, indicating a level of financial stability that may reassure investors concerned about the CEO’s stock sale.

The company’s Price / Book ratio stands at a high 5.7, as of the last twelve months ending Q4 2023, which suggests that the market is assigning a premium to the company’s net…

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