The sales were conducted under a pre-established trading plan adopted earlier this year, ensuring compliance with insider trading regulations. The company maintains strong liquidity with a current ratio of 17.88, and holds more cash than debt on its balance sheet. The company maintains strong liquidity with a current ratio of 17.88, and holds more cash than debt on its balance sheet.
The sales were conducted under a pre-established trading plan adopted earlier this year, ensuring compliance with insider trading regulations. The company maintains strong liquidity with a current ratio of 17.88, and holds more cash than debt on its balance sheet.
The sales were conducted under a pre-established trading plan adopted earlier this year, ensuring compliance with insider trading regulations.
In other recent news, Vaxcyte has reported several significant developments. The biotech company has expanded its corporate headquarters in San Carlos, California, consolidating previous leases into a unified agreement for a total of 258,581 square feet. Vaxcyte's pneumococcal conjugate vaccine candidate, VAX-31, has received clearance from the U.S. Food and Drug Administration for its Investigational New Drug application and has been granted Breakthrough Therapy designation for adult use.
Vaxcyte recently raised approximately $1.5 billion in a public offering managed by BofA Securities, Jefferies, and Goldman Sachs & Co (NYSE:GS). LLC. The company reported operational expenses of $140 million and a cash balance of $3.3 billion as of September 30. In response to these advancements, several analyst firms have adjusted their outlook on the company. Jefferies increased its price target for Vaxcyte to $146, Leerink Partners maintained its Outperform rating with a $135.00 price target, BTIG kept its Buy rating with a $160.00 price target, and Mizuho (NYSE:MFG) raised its price target to $163.
In other company news, Vaxcyte has appointed John P. Furey to its Board of Directors. These are the recent developments for Vaxcyte.
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