Vaxcyte IncPCVX
▼ NegativeCapitalrelevance
CFO's share disposition to cover tax withholding, though not discretionary, signals insider selling activity.
Impact on stocks 1
Biotech & Genomic Medicine
Vaxcyte IncVaxcyte's President and CFO Andrew Guggenhime reported the disposition of 2,705 shares, valued at approximately $165,492, in a recent SEC Form 4 filing, but the transaction was not a discretionary sale—it was an automatic surrender of shares to satisfy tax withholding obligations upon the vesting of restricted stock units. Following the transaction, Guggenhime retains about 164,000 shares, including 102,471 held directly and 61,850 held indirectly via ALG 2025 Grat Holdings LLC, with a total value of $10.12 million based on the September 2 market close. Vaxcyte, a clinical-stage biotech with no revenue, held $2.51 billion in cash and investments at the end of June, up from $2.44 billion at the end of last year, and reported a six-month net loss of $604.9 million, with operating expenses reaching $302.8 million in the second quarter. The company is spending heavily on manufacturing for a commercial launch that depends on trial data for its lead candidate VAX-24, with results expected in the fourth quarter, and shares have returned 95% over the past year.
Vaxcyte IncCFO's share disposition to cover tax withholding, though not discretionary, signals insider selling activity.