Vaxcyte, Inc. (NASDAQ:PCVX) President and CFO Andrew Guggenhime sold company stock valued at more than $599,000, according to a recent SEC filing. The transactions occurred on May 20, 2024, and were reported in a Form 4 document filed with the Securities and Exchange Commission.
Guggenhime engaged in multiple sales of Vaxcyte's common stock, disposing of 3,544 shares at weighted-average prices ranging from $73.95 to $74.90, and a further 4,456 shares at prices between $74.95 to $75.88. The total value of the shares sold at the first range was approximately $263,000, and at the second range, it was about $336,000. These sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which was adopted on June 30, 2023.
In addition to the sales, Guggenhime also exercised options to acquire 8,000 shares of common stock at a price of $5.35 per share, totaling $42,800. The options were part of a compensation plan where a quarter of the shares vested in May 2021, with the remaining shares vesting monthly over the following years.
The SEC filing indicates that following these transactions, Guggenhime's direct ownership in Vaxcyte common stock has adjusted to 95,679 shares. The filing also notes that the executive has an indirect ownership of 352,827 derivative securities in the form of stock options that are exercisable within 60 days.
Vaxcyte, based in San Carlos, California, specializes in the development of vaccines and operates within the biological products industry. The company, previously known as SutroVax Inc., is incorporated in Delaware and has been publicly traded since changing its name in 2015.
Investors and stakeholders often monitor the buying and selling activities of company insiders as it can provide insights into their perspective on the company's current valuation and future prospects.
InvestingPro Insights
As Vaxcyte, Inc. (NASDAQ:PCVX) sees significant insider stock transactions, it's crucial for stakeholders to gauge the company's financial health and future outlook through various metrics. According to InvestingPro data, Vaxcyte currently holds a market capitalization of $7.76 billion. Despite a challenging profitability outlook, as the company's P/E ratio stands at -17.77 for the last twelve months as of Q1 2024, Vaxcyte exhibits a strong performance in the market with a 6-month price total return of 50.31%.
Two notable InvestingPro Tips shed light on the company's financial position. Firstly, Vaxcyte holds more cash than debt on its balance sheet, which could provide a cushion against market volatility or unexpected expenses. Secondly, the company's liquid assets exceed its short-term obligations, indicating a solid position to cover immediate liabilities. However, analysts do not anticipate Vaxcyte will be profitable this year, and the company was not profitable over the last twelve months, which may concern investors looking for short-term gains.
For those interested in a deeper analysis, Vaxcyte's financials and future projections can be further explored with additional InvestingPro Tips. There are 9 InvestingPro Tips available for Vaxcyte, which can be accessed through the dedicated link: https://www.investing.com/pro/PCVX. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching your investment strategy with comprehensive insights.
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