SAN CARLOS, CA – Mikhail Eydelman, Senior Vice President, General Counsel, and Corporate Secretary at Vaxcyte, Inc. (NASDAQ:PCVX), has sold a total of $127,303 worth of company stock, according to the latest SEC filings. The transactions occurred on July 1, 2024, with the executive selling shares at prices ranging from $75.43 to $77.085.
Eydelman's sales were executed under a Rule 10b5-1 trading plan, which was adopted on June 29, 2023. Such plans allow company insiders to set up a predetermined schedule for buying and selling stocks at a time when they are not in possession of material non-public information. The specific prices at which the shares were sold varied, with the weighted-average prices being reported as $75.9272 and $76.8998 for separate batches of shares.
On the same day, Eydelman also exercised options to buy 1,667 shares of Vaxcyte common stock at a price of $21.41 per share, amounting to a total of $35,690. This transaction was part of a vesting schedule where one-quarter of the shares subject to the option vested on April 1, 2023, with an additional 1/48 of the shares set to vest monthly thereafter, contingent on Eydelman's ongoing service with the company.
Following these transactions, Eydelman's ownership in Vaxcyte stands at 30,826 shares of common stock directly held. The sales and option exercises are part of the normal course of action for corporate executives, who often use such financial moves to diversify their investment portfolios or to liquidate shares for other personal financial strategies.
Investors and analysts typically monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. However, such transactions are not necessarily indicative of future price movements and must be considered within the broader context of the company's performance and market conditions.
Vaxcyte, Inc., headquartered in San Carlos, California, operates in the biotechnology industry, focusing on the development of vaccines to prevent infectious diseases. The company's stock is publicly traded on the NASDAQ under the ticker symbol PCVX.
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Additionally, ARK divested 208,622 shares of Verve Therapeutics Inc, resulting in $1,166,197 leaving the fund's holdings, continuing a trend of reducing its position in the gene-editing company. ARK also sold 2,397 shares of Zoom Video Communications (NASDAQ:ZM) Inc, valued at $145,066, part of a broader reassessment of technology stocks within the portfolio. Finally, ARK bolstered its investment in Markforged Holding Corp with a purchase of 79,647 shares, totaling $38,127, indicating a growing interest in the 3D printing company.
InvestingPro Insights
Vaxcyte, Inc. (NASDAQ:PCVX) remains a company of interest to investors, particularly in light of recent insider transactions. As we look at the financial health and performance metrics provided by InvestingPro, a few key data points stand out. The company holds a market capitalization of $8.27 billion, which is significant for a firm in the biotechnology sector. Despite challenges in profitability, with a reported gross profit of -$75 million for the last twelve months as of Q1 2024, Vaxcyte has demonstrated a strong return over the past year with a 54.06% price total return. This indicates a robust market confidence in the company's potential.
InvestingPro Tips suggest that Vaxcyte holds more cash than debt on its balance sheet, which is a positive sign for investors looking for financial stability in their investments. Additionally, the company's liquid assets exceed its short-term obligations, further reinforcing its financial resilience. On the flip side, analysts do not expect Vaxcyte to be profitable this year, and the company suffers from weak gross profit margins, which could be a concern for potential investors.
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