These transactions provide insight into the insider trading activities at Vaxcyte, a company engaged in the development of vaccines for infectious diseases. While the company is not yet profitable, InvestingPro subscribers can access 10+ additional insights about Vaxcyte's financial health and growth prospects. While the company is not yet profitable, InvestingPro subscribers can access 10+ additional insights about Vaxcyte's financial health and growth prospects.
These transactions provide insight into the insider trading activities at Vaxcyte, a company engaged in the development of vaccines for infectious diseases. While the company is not yet profitable, InvestingPro subscribers can access 10+ additional insights about Vaxcyte's financial health and growth prospects.
These transactions provide insight into the insider trading activities at Vaxcyte, a company engaged in the development of vaccines for infectious diseases.
In other recent news, Vaxcyte, a biotechnology company, has reported promising developments in its operations. On the financial front, the company completed a public offering, raising approximately $1.5 billion. The offering was managed by BofA Securities, Jefferies, and Goldman Sachs (NYSE:GS) & Co. LLC. As of September 30, Vaxcyte reported operational expenses of $140 million and a cash balance of $3.3 billion.
Vaxcyte has also made strides in its vaccine development program. The U.S. Food and Drug Administration (FDA) cleared the Investigational New Drug application for VAX-31, their pneumococcal conjugate vaccine candidate, and granted it Breakthrough Therapy designation for use in adults. The company plans to initiate a Phase 2 study for pediatric use by early 2025 and a Phase 3 study for adults by mid-2025.
In terms of corporate changes, Vaxcyte has expanded its headquarters in San Carlos, California, and announced the appointment of John P. Furey to its Board of Directors. Additionally, the company has received positive feedback from analysts. Jefferies increased its price target for Vaxcyte to $146, Leerink Partners reiterated an Outperform rating with a $135.00 price target, BTIG maintained a Buy rating with a $160.00 price target, and Mizuho (NYSE:MFG) increased its price target to $163. These recent developments underline Vaxcyte's progress in its mission to develop vaccines against bacterial infections.
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