PCVX

LONGINSIDER SELL

VAXCYTE INC

Funds

Score

4.00

vs SPY

-27.9%

Stock return (since Q-end)

-11.6%

SPY return (since Q-end)

+16.3%

Current price

$51.40

News Summary

Neutral

Vaxcyte reported a significant Q1 2026 earnings miss with EPS of ($2.30) vs. ($1.74) consensus, driven by heavy R&D spending ($312.8M) on fully-enrolled Phase 3 VAX-31 trials. Despite the miss, the company maintains a strong $2.74B cash position from a recent equity raise and is on track for critical OPUS-1 topline data in Q4 2026, with near-unanimous bullish analyst consensus ($114.88 average price target) supporting the long-term vaccine franchise potential.

Red flags

•Missed Q1 2026 EPS by $0.56 (32% miss vs. consensus estimate of $1.74)
•Stock fell 4.87% on earnings day despite positive cash position and pipeline progress
•Widened net loss to $320.6M in single quarter; R&D burn rate of ~$312.8M per quarter suggests ~8.7 quarters of cash runway even at current spend levels
•FDA regulatory uncertainty following Peter Marks' resignation creates headline risk for upcoming BLA submissions
•Heavy dependence on VAX-31 Phase 3 binary outcomes (OPUS-1 in Q4 2026) with no near-term revenue to offset ongoing cash burn

Funds Buying (3)

Fund	Manager	Shares Held	∆ Shares	Position Value	QoQ	Status
Maverick Capital	Lee Ainslie	1.4M	+24K	$80.1B	+2%	Existing
Point72	Steve Cohen	620K	+620K	$36.1B	—	NEW
Baupost Group	Seth Klarman	800K	+800K	$46M	—	NEW

Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter.

Insider Activity

Name	Title	Type	Shares	Price	Value	Filed
Wassil Jim	CHIEF OPERATING OFFICER	SELL	2K	$56.83	$0.13M	2026-05-01
Cowan Elvia	SVP, Finance & CAO	SELL	3K	$60.00	$0.18M	2026-04-07
Wassil Jim	CHIEF OPERATING OFFICER	SELL	1K	$58.14	$0.08M	2026-04-01
Wassil Jim	CHIEF OPERATING OFFICER	SELL	838	$58.93	$0.05M	2026-04-01