# Vaxcyte, Inc. (PCVX)

> Source: Nexqual · https://nexqual.com/PCVX · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Vaxcyte, Inc. (PCVX), nexqual.com/PCVX" · informational, not investment advice.

**Price:** USD 62.85 (-0.60% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 63.23 · day 61.56–64.58 · 52w 39.87–90.75 · market cap $9.89B · NMS

## Key facts
- 1 of 80 tracked superinvestors hold PCVX (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 17 Form 4 filings, $10.6M; 0 not under a Rule 10b5-1 plan ($0K); 11 by opportunistic insiders (0 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (11 analysts), mean target USD 117.3 (range 75–163).
- Total return with dividends: 1Y +51.1% vs S&P 500 +14.9%; 5Y +176.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD -2.11, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$104M | -$232M | -$468M | -$570M | -$924M | -$1.17B |
| Net income | -$100M | -$223M | -$402M | -$464M | -$767M | -$1.06B |
| EPS (diluted) | -$1.93 | -$3.44 | -$4.14 | -$3.80 | -$5.63 | — |
| Free cash flow | -$128M | -$176M | -$313M | -$475M | -$669M | -$894M |
| Cash + short-term investments | $246M | $931M | $1.08B | $1.75B | $1.56B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 3.6x · FCF yield -9.04% · Earnings yield -10.76%

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold PCVX. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.85% | $93.8M | Added +17.1% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
17 of 17 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-05 | Wassil Jim | EVP, Chief Scientific Ofc, COO | 18,000 | $1.6M | 11% | Yes (adopted December 9, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-10-05 | Cowan Elvia | SVP, Finance & CAO | 19,000 | $1.6M | 40.5% | Yes (adopted December 8, 2025) | Too little history (no open-market trades in 2023) |
| 2026-10-01 | Wassil Jim | EVP, Chief Scientific Ofc, COO | 2,250 | $128K | 1.5% | Yes (adopted December 9, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-04…2026-09-09 | Wassil Jim | EVP, Chief Scientific Ofc, COO | 2,715 | $164K | 1.8% | Yes (adopted December 9, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-01 | Wassil Jim | CHIEF OPERATING OFFICER | 3,477 | $212K | 2.2% | Yes (adopted December 9, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-05 | Dhaliwal Harpreet S. | Chief Technical Ops Officer | 17,000 | $935K | 18.1% | Yes (adopted April 6, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-03 | Wassil Jim | CHIEF OPERATING OFFICER | 2,250 | $121K | 1.4% | Yes (adopted December 9, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-03 | Guggenhime Andrew | PRESIDENT AND CFO | 10,000 | $539K | 5.6% | Yes (adopted March 4, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-27 | Pickering Grant | CHIEF EXECUTIVE OFFICER | 18,198 | $1.0M | 3% | Yes (adopted March 3, 2026) | Too little history (no open-market trades in 2025) |
| 2026-07-06 | Guggenhime Andrew | PRESIDENT AND CFO | 10,000 | $573K | 5.7% | Yes (adopted March 4, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-01 | Wassil Jim | CHIEF OPERATING OFFICER | 2,250 | $127K | 1.4% | Yes (adopted December 9, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-26 | Pickering Grant | CHIEF EXECUTIVE OFFICER | 24,237 | $1.3M | 4% | Yes (adopted March 3, 2026) | Too little history (no open-market trades in 2025) |
| 2026-06-18 | Pickering Grant | CHIEF EXECUTIVE OFFICER | 24,461 | $1.3M | 3.9% | Yes (adopted March 3, 2026) | Too little history (no open-market trades in 2025) |
| 2026-06-18 | Guggenhime Andrew | PRESIDENT AND CFO | 10,000 | $530K | 5.7% | Yes (adopted March 4, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-01 | Wassil Jim | CHIEF OPERATING OFFICER | 2,250 | $111K | 1.4% | Yes (adopted December 9, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-01 | Wassil Jim | CHIEF OPERATING OFFICER | 2,250 | $128K | 1.4% | Yes (adopted December 9, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-07 | Cowan Elvia | SVP, Finance & CAO | 3,000 | $180K | 9.4% | Yes (adopted December 8, 2025) | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 11 analysts; mean target USD 117.3 (low 75, high 163).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Cantor Fitzgerald | Reiterated | Overweight | $120 |
| 2026-10-05 | BTIG | Reiterated | Buy | $89 |
| 2026-10-05 | Needham | Target raised | Buy | $110 → $122 |
| 2026-10-05 | Guggenheim | Target raised | Buy | $116 → $125 |
| 2026-09-28 | B of A Securities | Target lowered | Buy | $133 → $130 |
| 2026-09-25 | Needham | Reiterated | Buy | $110 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +51.1% | +176.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +51.3% | +22.5% |
| Volatility (annualized) | 53.6% | 68.9% |
| Max drawdown | -27.9% (Feb 2026→Jun 2026) | -74.2% (Sep 2024→Aug 2025) |

## Peers (Biotechnology)
TWST (Twist Bioscience Corporation) USD 135.47 -9.16% · KRYS (Krystal Biotech, Inc.) USD 320.13 -0.63% · MDGL (Madrigal Pharmaceuticals, Inc.) USD 453.34 -1.01% · BMRN (BioMarin Pharmaceutical Inc.) USD 56.63 +2.57% · KYMR (Kymera Therapeutics, Inc.) USD 110.85 -1.58% · IBRX (ImmunityBio, Inc.) USD 8.31 -3.82%

## More
Full page: https://nexqual.com/PCVX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in PCVX's own 10-K filed 2026-02-24 (https://www.sec.gov/Archives/edgar/data/1649094/000164909426000007/pcvx-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Lonza | "We have access to substantial manufacturing resources through our contract manufacturer, Lonza, that we believe can facilitate an independent path to market." |
| Supplier | Thermo Fisher (TMO) | "In September 2025, we entered into a master services agreement with Thermo Fisher, pursuant to which Thermo Fisher will formulate, fill, inspect, package, label, test, manufacture and supply drug product for us at Thermo…" |
| Supplier | Patheon Manufacturing Services | "In September 2025, we also entered into a master services agreement with Patheon Manufacturing Services LLC, part of Thermo Fisher Scientific (collectively, "Thermo Fisher"), pursuant to which Thermo Fisher will commerci…" |
| Partner | SUTRO BIOPHARMA, INC. (STRO) | "In November 2023, we entered into a manufacturing rights agreement with Sutro Biopharma, Inc ("Sutro Biopharma") to obtain control over the development and manufacture of cell-free extract, a key component of our PCV fra…" |
| Competitor | Pfizer (PFE) | "The vaccine market is intensely competitive and is dominated by a small number of multinational, globally established pharmaceutical corporations with significant resources; in recent history, Pfizer, Merck, GSK plc ("GS…" |
| Competitor | Merck (MRK) | "The vaccine market is intensely competitive and is dominated by a small number of multinational, globally established pharmaceutical corporations with significant resources; in recent history, Pfizer, Merck, GSK plc ("GS…" |

Other companies that name PCVX in their own reports (relationship from PCVX's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | SUTRO BIOPHARMA, INC. (STRO) | 10-K 2026-03-23 | "Under the license agreement, Vaxcyte has the right to use the XpressCF® and XpressCF+® platforms to discover and develop vaccine candidates for the treatment or prophylaxis of infectious diseases." |

## Company outlook (8-K filed 2026-08-05)

- "EX-99.1 2 pcvx-20260805xexx991.htm EX-99.1 Document Exhibit 99.1 Vaxcyte Reports Second Quarter 2026 Financial Results and Provides Business Update Topline Safety, Tolerability and Immunogenicity Data from VAX-31 Adult Phase 3 OPUS-1 Trial Expected in Fourth Quarter of 2026;"
- "Topline Data Expected in Second Half of 2027 Approximately $2.5 Billion in Cash, Cash Equivalents and Investments as of June 30, 2026 SAN CARLOS, Calif., August 5, 2026 – Vaxcyte, Inc."
- "Topline Data from OPUS-1 Expected in Fourth Quarter 2026: All three ongoing VAX-31 Phase 3 clinical trials (OPUS-1, OPUS-2 and OPUS-3) are fully enrolled with 6,191 adults dosed in total, approximately 3,500 of whom received VAX-31."
- "The Stage 2 portion of the study is expected to proceed contingent upon the Data Safety Monitoring Board's approval following the review of unblinded Stage 1 safety and tolerability data."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-2.11 | $-2.16 | -2.5% | $0 | 7 |
| Next quarter (ends 2026-12-31) | $-1.96 | $-2.12 | -7.5% | $0 | 7 |
| Current fiscal year (ends 2026-12-31) | $-8.14 | $-8.48 | -4.0% | $0 | 7 |
| Next fiscal year (ends 2027-12-31) | $-7.12 | $-7.42 | -4.1% | $87.1M | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-03): ±12.0%; last 8 reports averaged ±6.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 51.0% | ±12.0% |
| 2026-12-18 | 56 | 53.9% | ±17.5% |
| 2027-01-15 | 84 | 51.5% | ±20.3% |
| 2027-04-16 | 175 | 54.0% | ±30.2% |
| 2027-07-16 | 266 | 55.0% | ±37.7% |