SAN CARLOS, CA – Gilbert Halley E, a director at Vaxcyte, Inc. (NASDAQ:PCVX), a company specializing in biological products, has sold 18,200 shares of common stock at an average price of $73.00, according to a recent SEC filing. The total value of the sold shares amounts to approximately $1,328,600. The transaction was executed on June 3, 2024, and was reported to the SEC on June 5, 2024.
The sales were conducted under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a trading plan for selling stocks they own in accordance with the insider trading laws. The plan had been adopted on March 1, 2024.
In addition to the sale, the SEC filing revealed that on the same day, Gilbert also exercised options to acquire 18,200 shares of Vaxcyte's common stock at a strike price of $5.35 per share, totaling $97,370. The exercised options are fully vested and exercisable, as noted in the footnotes of the SEC document. Following these transactions, Gilbert's direct ownership in the company stands at 5,625 shares of common stock.
Furthermore, the SEC filing includes a footnote indicating that Gilbert Halley E has transferred 30,374 vested stock options to his ex-spouse pursuant to a domestic relations order. This transfer of options will not be reported in future Section 16(a) filings as it does not represent beneficial ownership for Gilbert.
Investors often monitor insider transactions as they provide insights into executives' perspectives on the company's stock value. Vaxcyte's stock transactions by its director come at a time when the company continues to advance its efforts in the biopharmaceutical field.
Vaxcyte, Inc., formerly known as SutroVax Inc., is headquartered in San Carlos, California, and focuses on the development of vaccine candidates to prevent infectious diseases.
InvestingPro Insights
As Vaxcyte, Inc. (NASDAQ:PCVX) navigates through its developmental stage in the biopharmaceutical industry, the company's financial health and market performance remain key areas of interest for investors. According to InvestingPro, Vaxcyte holds more cash than debt on its balance sheet, which is a positive sign for the company's financial stability. The significance of this metric is underscored by the fact that liquid assets exceed short-term obligations, providing Vaxcyte with a solid liquidity position.
On the other hand, the company's profitability challenges are evident, as Vaxcyte has not been profitable over the last twelve months, and analysts do not anticipate the company will be profitable this year. Despite these challenges, the stock has experienced a significant price uptick over the last six months, with a total return of 32.08%. This could reflect investor confidence in the company's long-term prospects or a response to specific events or announcements.
InvestingPro Data highlights a Market Cap of $7,720M, suggesting that Vaxcyte has a substantial market valuation. However, the P/E Ratio stands at -17.3, reflecting the company's current lack of profitability. Additionally, the Price to Book ratio for the last twelve months as of Q1 2024 is 4.03, which may suggest that the stock is trading at a premium relative to the company's book value.
For those looking to dive deeper into Vaxcyte's financials and market performance, InvestingPro offers additional insights. There are 7 more InvestingPro Tips available for Vaxcyte, which could provide a more nuanced understanding of the company's prospects. Interested readers can access these tips and take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.