Movement Alert｜Vaxcyte, Inc. Intraday Rise 5.24%, Analysts Raise Price Targets After Positive Phase 3 Vaccine Data

Market Focus10-09

On October 9, Vaxcyte, Inc. rose 5.24% in regular trading, trading at $68.19/share, with turnover of $25.387 million.

The movement follows continued recalibration after the company's 31-valent pneumococcal vaccine candidate VAX-31 met all pre-specified primary endpoints in a Phase 3 trial across age groups, announced earlier in the week. The data showed VAX-31 was well tolerated with a safety profile similar to PCV20 and PCV21. Analysts responded positively, with Needham raising its price target to $122 from $110 and maintaining a Buy rating, while BofA Securities maintained a Buy rating with a price target of $130.

The company expects to report results from two adult Phase 3 trials in H1 2027, supporting a planned biologics license application submission to the FDA in H1 2028. Earlier in the week, shares experienced volatility after the company announced a public offering of common stock, pre-funded warrants, and convertible senior notes, which raised concerns about equity dilution.

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