Vaxcyte's CEO Parted With Shares for Taxes. Here's What Long-Term Investors Should Know About the Firm
The stock has surged 95% over the past year, and the CEO retains about 447,000 direct shares plus indirect holdings.
Grant Pickering, CEO of Vaxcyte Inc. (NASDAQ:PCVX), recently sold 6,289 shares of the company's common stock in a non-discretionary transaction, according to a recent SEC Form 4 filing. The weighted average sale price for the shares was $61.20, while the post-transaction value based on the September 2 market close was $61.58.
Vaxcyte Inc. is a San Carlos-based clinical-stage biotechnology company with 507 employees that specializes in developing next-generation protein-based vaccines. The company's innovative approach utilizes advanced conjugate vaccine technology to create multivalent formulations with superior immunogenicity and a broader range of pathogen coverage compared to existing therapeutic options.
Vaxcyte's market capitalization stands at $9.0 billion, with a one-year share price appreciation of 95.12%, indicating investor confidence in the company's clinical pipeline and the significant market opportunities within the global vaccine sector.
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