Vaxcyte, Inc. (NASDAQ:PCVX) President and Chief Financial Officer Andrew Guggenhime has sold a total of 8,000 shares of the company's common stock in a series of transactions dated March 18, 2024. According to the latest SEC filings, the shares were sold at weighted-average prices between $68.999 and $69.642, netting a total of approximately $552,143.
On the same day, Guggenhime also acquired 8,000 shares of common stock at a price of $5.35 per share, amounting to a total transaction value of $42,800. These shares were obtained through the exercise of options as part of the executive's compensation plan.
The transactions were conducted under a Rule 10b5-1 trading plan, which was adopted on June 30, 2023. Such plans allow insiders to sell shares at predetermined times to avoid accusations of trading on nonpublic information.
Following the sale, Guggenhime's direct ownership in Vaxcyte stands at 95,915 shares of common stock. The transactions reflect routine trading activity by the executive and are part of the standard compensation and investment strategy for high-level executives within the company.
Investors and shareholders can request detailed information about the exact number of shares sold at each price point from Guggenhime, as mentioned in the footnotes of the SEC filing. The executive's trading plan is set to continue under the pre-established guidelines, providing a structured schedule for potential future transactions.
Vaxcyte, headquartered in San Carlos, California, operates in the biotechnology industry, focusing on developing vaccines to improve global health. The company, formerly known as SutroVax, Inc., has been incorporated in Delaware and is committed to advancing its product pipeline with innovative biological solutions.
InvestingPro Insights
As Vaxcyte's financial activities draw attention, particularly the recent stock transactions by President and CFO Andrew Guggenhime, investors might find the broader financial picture provided by InvestingPro data insightful. Vaxcyte's market capitalization stands at $7.49 billion, reflecting its valuation in the biotechnology market. Despite a challenging profitability outlook, with a negative P/E ratio of -16.55 for the last twelve months as of Q4 2023, the company has demonstrated significant stock appreciation over the last year, with a price total return of 74.68%.
InvestingPro Tips reveal a mix of financial strengths and challenges for Vaxcyte. Notably, the company holds more cash than debt, indicating a solid liquidity position that could support its operations and research endeavors. However, Vaxcyte is not expected to be profitable this year, as analysts remain cautious about its short-term earnings potential. The company's stock has experienced volatility, taking a notable hit over the last week, yet it has also seen a large price uptick over the past six months.
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