PCVX Vaxcyte, Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 5, 2026
$56.48
· of 52w range
· above low
· to high
$39.8752w low
$65.0052w high
Market Cap (MRQ)
$8.18B
P/E
-10.0
EPS
$-5.63
your badges
52W Range
$40–$65
Analyst Rating
BUY
Price Target
$109
P/E
-10.0
ROE
-26.6%
Net Profit Margin
·
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PCVX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$56.48
Market Cap (MRQ)
$8.18B
P/E
-10.0
EPS
$-5.63
ROE
-26.6%
52W Range
$40–$65
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10-Year Performance Revenue, net income, margins and EPS trends
EPS$-5.632020-12-31 → 2025-12-31
Free Cash Flow$-669M2020-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | PCVX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -10.05Y avg ≈-14.2 | ≈-14.2 | · | · | |
| P/B (MRQ) | 3.05Y avg ≈3.7 | ≈3.7 | 9.0 | Undervalued | |
| Price / FCF (TTM) | -9.15Y avg ≈-16.2 | ≈-16.2 | · | · | |
| Price / Cash Flow (TTM) | -9.35Y avg ≈-16.9 | ≈-16.9 | · | · | |
| Price / Tangible Book | 2.85Y avg ≈3.7 | ≈3.7 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | PCVX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -23.5%5Y avg ≈-27.4% | ≈-27.4% | -18.4% | Weak | |
| ROE | -26.6%5Y avg ≈-27.8% | ≈-27.8% | -20.3% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | PCVX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 5.75Y avg ≈12.1 | ≈12.1 | 6.7 | Low liquidity | |
| Quick Ratio | 7.65Y avg ≈11.8 | ≈11.8 | 3.6 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-9.8%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $-1.97 | $-2.10 | 6.0% |
| March 31, 2026 | $-2.30 | $-1.79 | -28.7% | |
| Dec. 31, 2025 | $-1.80 | $-1.55 | -16.4% | |
| Sept. 30, 2025 | $-1.56 | $-1.29 | -20.5% | |
| June 30, 2025 | $-1.22 | $-1.19 | -2.1% | |
| March 31, 2025 | $-1.04 | $-1.07 | 2.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| R&D Expense | $794M | $477M | $332M | $169M | $78M | $74M | $46M | |
| SG&A Expense | $129M | $93M | $61M | $40M | $25M | $16M | $9M | |
| Operating Expenses | $924M | $570M | $468M | $232M | $104M | $90M | $54M | |
| Operating Income | $-924M | $-570M | $-468M | $-232M | $-104M | $-90M | $-54M | |
| Interest Expense | · | · | $0 | $2.0K | $7.0K | $7.0K | $40.0K | |
| Interest Income | $120M | $110M | $63M | $8M | $344.0K | $244.0K | $632.0K | |
| Other Non-op | $37M | $-4M | $3M | $9M | $4M | $364.0K | $4M | |
| Income Tax | $0 | $0 | $0 | · | · | · | · | |
| Net Income | $-767M | $-464M | $-402M | $-223M | $-100M | $-89M | $-50M | |
| EPS (Basic) | $-5.63 | $-3.80 | $-4.14 | $-3.44 | $-1.93 | $-3.02 | · | |
| EPS (Diluted) | $-5.63 | $-3.80 | $-4.14 | $-3.44 | $-1.93 | $-3.02 | · | |
| Shares (Basic) | 136,089,506 | 121,997,348 | 97,157,690 | 64,877,988 | 51,922,108 | 29,545,810 | · | |
| Shares (Diluted) | 136,089,506 | 121,997,348 | 97,157,690 | 64,877,988 | 51,922,108 | 29,545,810 | · | |
| EBITDA | $-907M | $-563M | $-465M | $-230M | $-102M | $-88M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $174M | $388M | $397M | $835M | $69M | $386M | $59M | |
| Short-term Investments | $1.39B | $1.36B | $683M | $97M | $177M | · | · | |
| Prepaid Expense | $66M | $41M | $16M | $11M | $10M | $3M | $3M | |
| Other Current Assets | $2M | $2M | $2M | $2M | · | · | · | |
| Current Assets | $1.63B | $1.79B | $1.10B | $943M | $256M | $389M | $62M | |
| PP&E (Net) | $257M | $198M | $80M | $10M | $8M | $3M | $3M | |
| PP&E (Gross) | $290M | $214M | $89M | $16M | $12M | $7M | $6M | |
| Accum. Depreciation | $33M | $16M | $9M | $6M | $4M | $4M | $3M | |
| Other Non-current Assets | $119M | $64M | $38M | $5M | $4M | $550.0K | $584.0K | |
| Total Assets | $3.00B | $3.51B | $1.41B | $1.01B | $324M | $393M | $66M | |
| Accounts Payable | $71M | $48M | $15M | $10M | $7M | $30M | $3M | |
| Accrued Liabilities | $31M | $29M | $60M | $15M | $9M | $4M | $1M | |
| Current Liabilities | $206M | $140M | $145M | $41M | $29M | $47M | $11M | |
| Capital Leases | $111M | $65M | $22M | $12M | $12M | · | · | |
| Other Non-current Liabilities | $100.0K | $100.0K | $0 | $9.0K | $96.0K | $112.0K | $242.0K | |
| Total Liabilities | $317M | $205M | $167M | $53M | $40M | $47M | $12M | |
| Common Stock | $134.0K | $128.0K | $98.0K | $82.0K | $56.0K | $54.0K | $7.0K | |
| Retained Earnings | $-2.15B | $-1.39B | $-924M | $-522M | $-299M | $-199M | $-109M | |
| AOCI | $2M | $-4M | $179.0K | $-361.0K | $-241.0K | · | · | |
| Stockholders' Equity | $2.69B | $3.31B | $1.24B | $954M | $284M | $346M | $-106M | |
| Liabilities + Equity | $3.00B | $3.51B | $1.41B | $1.01B | $324M | $393M | $66M | |
| Shares Outstanding | 131,058,858 | 124,893,034 | 95,364,831 | 79,470,670 | 53,031,978 | 51,071,593 | 4,059,909 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $16M | $7M | $3M | $3M | $2M | $1M | $1M | |
| Stock-based Comp | $139M | $85M | $49M | $24M | $11M | $5M | $1M | |
| Other Non-cash | $-44M | $-81M | $54M | $27M | $-34M | $36M | · | |
| Operating Cash Flow | $-656M | $-453M | $-297M | $-171M | $-121M | $-47M | $-47M | |
| CapEx | $14M | $22M | $16M | $6M | $7M | $1M | $1M | |
| Investing Cash Flow | $437M | $-2.01B | $-773M | $75M | $-212M | $-1M | $-1M | |
| Stock Issued | · | $196M | $91M | $97M | $14M | $0 | · | |
| Net Stock Activity | · | $196M | $91M | $97M | $14M | · | · | |
| Financing Cash Flow | $2M | $2.45B | $640M | $862M | $18M | $375M | $42M | |
| Net Change in Cash | $-214M | $-9M | $-437M | $766M | $-316M | $327M | $-7M | |
| Free Cash Flow | $-669M | $-475M | $-313M | $-176M | $-128M | $-48M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| ROA | -23.5% | -18.9% | -33.3% | -33.6% | -27.9% | -38.9% | · | |
| ROE | -26.6% | -13.8% | -30.4% | -34.0% | -33.9% | -25.1% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.9 | 12.8 | 7.5 | 23.3 | 8.9 | 8.3 | · | |
| Quick Ratio | 7.6 | 12.5 | 7.4 | 23.0 | 8.6 | 8.2 | · | |
| Interest Coverage | · | · | · | -116128.0 | -14810.0 | -12797.3 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $20.49 | $26.47 | $13.01 | $12.00 | $5.36 | $6.77 | · | |
| Cash Flow / Share | $-4.82 | $-3.71 | $-3.05 | $-2.63 | · | · | · | |
| Cash / Share | $1.33 | $3.11 | $4.17 | $10.50 | $1.30 | $7.56 | · | |
| Dividend / Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| EPS (TTM) | $-5.63 | $-3.80 | $-4.14 | $-3.44 | $-1.93 | $-3.02 | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-767M | $-464M | $-402M | $-223M | $-100M | $-89M | · | |
| Market Cap | $6.05B | $10.22B | $5.99B | $3.81B | $1.26B | $1.36B | · | |
| P/E | -8.2 | -21.5 | -15.2 | -13.9 | -12.3 | -8.8 | · | |
| P/B | 2.3 | 3.1 | 4.8 | 4.0 | 4.4 | 3.9 | · | |
| P / Tangible Book | 2.3 | 3.1 | 4.8 | 4.0 | 4.4 | 3.9 | · | |
| P / Cash Flow | -9.2 | -22.6 | -20.2 | -22.3 | -10.4 | -29.1 | · | |
| P / FCF | -9.0 | -21.5 | -19.1 | -21.6 | -9.9 | -28.4 | · | |
| Earnings Yield | -12.2% | -4.6% | -6.6% | -7.2% | -8.1% | -11.4% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $268M | $313M | $242M | $210M | $194M | $148M | $134M | $117M | $132M | $95M | $104M | $97M | $73M | $58M | $52M | $48M | |
| SG&A Expense | $35M | $33M | $32M | $32M | $32M | $33M | $29M | $23M | $21M | $20M | $18M | $16M | $14M | $13M | $12M | $11M | |
| Operating Expenses | $303M | $346M | $274M | $242M | $226M | $181M | $162M | $140M | $153M | $114M | $197M | $113M | $87M | $71M | $87M | $59M | |
| Operating Income | $-303M | $-346M | $-274M | $-242M | $-226M | $-181M | $-162M | $-140M | $-153M | $-114M | $-197M | $-113M | $-87M | $-71M | $-87M | $-59M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | · | · | $0 | |
| Interest Income | $26M | $27M | $26M | $29M | $31M | $33M | $36M | $28M | $24M | $22M | $18M | $18M | $16M | $10M | $7M | $1M | |
| Other Non-op | $-7M | $-1M | $1M | $291.0K | $29M | $7M | $-11M | $9M | $465.0K | $-2M | $-47M | $20M | $19M | $11M | $9M | $660.0K | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | $0 | |
| Net Income | $-284M | $-321M | $-247M | $-213M | $-167M | $-141M | $-137M | $-103M | $-129M | $-95M | $-181M | $-93M | $-68M | $-60M | $-78M | $-58M | |
| EPS (Basic) | $-1.97 | $-2.30 | $-1.81 | $-1.56 | $-1.22 | $-1.04 | $-1.02 | $-0.83 | $-1.10 | $-0.85 | $-1.83 | $-0.91 | $-0.70 | $-0.70 | $-1.03 | $-0.93 | |
| EPS (Diluted) | $-1.97 | $-2.30 | $-1.81 | $-1.56 | $-1.22 | $-1.04 | $-1.02 | $-0.83 | $-1.10 | $-0.85 | $-1.83 | $-0.91 | $-0.70 | $-0.70 | $-1.03 | $-0.93 | |
| Shares (Basic) | 144,494,106 | 139,506,680 | · | 136,196,512 | 136,033,746 | 135,690,949 | · | 123,693,461 | 117,256,561 | 111,690,951 | · | 101,668,655 | 98,057,870 | 86,206,817 | · | 61,989,347 | |
| Shares (Diluted) | 144,494,106 | 139,506,680 | · | 136,196,512 | 136,033,746 | 135,690,949 | · | 123,693,461 | 117,256,561 | 111,690,951 | · | 101,668,655 | 98,057,870 | 86,206,817 | · | 61,989,347 | |
| EBITDA | $-303M | $-343M | · | $-242M | $-226M | $-178M | · | $-140M | $-153M | $-113M | · | $-113M | $-87M | $-70M | · | $-59M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $183M | $261M | $174M | $281M | $307M | $347M | $388M | $1.05B | $519M | $612M | $397M | $545M | $531M | $380M | $835M | $278M | |
| Short-term Investments | $1.30B | $1.48B | $1.39B | $1.43B | $1.35B | $1.32B | $1.36B | $1.13B | $934M | $875M | · | $721M | $756M | $442M | · | $84M | |
| Prepaid Expense | $66M | $76M | $66M | $56M | $54M | $45M | $41M | $33M | $29M | $31M | · | $30M | $23M | $19M | · | $8M | |
| Other Current Assets | · | · | $2M | · | · | · | $2M | $3M | $1M | $2M | · | $1M | · | · | · | · | |
| Current Assets | $1.55B | $1.81B | $1.63B | $1.77B | $1.72B | $1.72B | $1.79B | $2.21B | $1.48B | $1.52B | · | $1.30B | $1.31B | $841M | · | $370M | |
| PP&E (Net) | $260M | $261M | $257M | $253M | $242M | $217M | $198M | $163M | $126M | $85M | · | $11M | $16M | $15M | · | $10M | |
| PP&E (Gross) | · | · | $290M | · | · | · | $214M | $177M | $138M | $95M | · | $20M | $24M | $22M | · | $15M | |
| Accum. Depreciation | · | · | $33M | · | · | · | $16M | $13M | $12M | $10M | · | $8M | $8M | $7M | · | $5M | |
| Other Non-current Assets | $193M | $156M | $119M | $107M | $95M | $76M | $64M | $60M | $53M | $46M | · | $3M | $3M | $4M | · | $5M | |
| Total Assets | $3.14B | $3.35B | $3.00B | $3.17B | $3.31B | $3.38B | $3.51B | $3.56B | $2.09B | $2.09B | · | $1.50B | $1.50B | $1.01B | · | $412M | |
| Accounts Payable | $101M | $63M | $71M | $49M | $31M | $21M | $48M | $18M | $10M | $22M | · | $16M | $16M | $12M | · | $5M | |
| Accrued Liabilities | $25M | $30M | $31M | $25M | $32M | $26M | $29M | $31M | $22M | $54M | · | $15M | $19M | $18M | · | $14M | |
| Current Liabilities | $271M | $242M | $206M | $200M | $154M | $97M | $140M | $124M | $83M | $87M | · | $86M | $60M | $53M | · | $39M | |
| Capital Leases | $109M | $110M | $111M | $79M | $80M | $81M | $65M | $18M | $18M | $20M | · | $8M | $9M | $11M | · | $13M | |
| Other Non-current Liabilities | · | · | $100.0K | · | · | · | $100.0K | · | · | · | · | $2.0K | $5.0K | $7.0K | · | $89.0K | |
| Total Liabilities | $380M | $352M | $317M | $279M | $234M | $178M | $205M | $142M | $101M | $107M | · | $93M | $69M | $63M | · | $53M | |
| Common Stock | $148.0K | $147.0K | $134.0K | $133.0K | $133.0K | $132.0K | $128.0K | $127.0K | $114.0K | $112.0K | · | $98.0K | $97.0K | $84.0K | · | $64.0K | |
| Retained Earnings | $-2.76B | $-2.48B | $-2.15B | $-1.91B | $-1.70B | $-1.53B | $-1.39B | $-1.25B | $-1.15B | $-1.02B | · | $-744M | $-651M | $-583M | · | $-444M | |
| AOCI | $-8M | $-7M | $2M | $856.0K | $-2M | $-322.0K | $-4M | $139.0K | $2M | $3M | · | $-2M | $-3M | $47.0K | · | $-657.0K | |
| Stockholders' Equity | $2.76B | $3.00B | $2.69B | $2.89B | $3.07B | $3.20B | $3.31B | $3.42B | $1.99B | $1.98B | $1.24B | $1.40B | $1.43B | $945M | $954M | $359M | |
| Liabilities + Equity | $3.14B | $3.35B | $3.00B | $3.17B | $3.31B | $3.38B | $3.51B | $3.56B | $2.09B | $2.09B | · | $1.50B | $1.50B | $1.01B | · | $412M | |
| Shares Outstanding | 144,785,934 | 144,314,981 | 131,058,858 | 130,029,111 | 129,816,472 | 128,939,412 | 124,893,034 | 124,429,862 | 110,575,993 | 108,755,731 | · | 95,099,101 | 93,812,533 | 80,640,851 | · | 60,572,692 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $3M | $7M | $3M | $3M | $3M | $3M | $2M | $1M | $999.0K | $888.0K | $806.0K | $750.0K | $712.0K | $959.0K | $684.0K | |
| Stock-based Comp | $41M | $38M | $36M | $35M | $37M | $31M | $24M | $21M | $22M | $18M | $13M | $13M | $13M | $10M | $7M | $7M | |
| Other Non-cash | · | $-914.0K | · | · | · | $-59M | · | · | · | $-83M | · | · | · | $2M | · | · | |
| Operating Cash Flow | $-232M | $-281M | $-225M | $-143M | $-121M | $-166M | $-111M | $-61M | $-121M | $-159M | $-129M | $-58M | $-63M | $-48M | $-65M | $-39M | |
| CapEx | $4M | $2M | $3M | $4M | $2M | $5M | $4M | $5M | $8M | $6M | $5M | $7M | $-2M | $6M | $1M | $843.0K | |
| Investing Cash Flow | $148M | $-233M | $115M | $121M | $78M | $123M | $-557M | $-917M | $-80M | $-451M | $-14M | $22M | $-334M | $-448M | $-36M | $35M | |
| Stock Issued | · | · | · | · | · | · | · | $89M | $107M | $0 | · | $49M | $0 | $42M | $2M | $43M | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | $0 | · | · | · | $42M | · | · | |
| Financing Cash Flow | $6M | $602M | $2M | $-4M | $3M | $759.0K | $5M | $1.52B | $110M | $818M | $3M | $49M | $547M | $42M | $657M | $44M | |
| Net Change in Cash | $-78M | $87M | $-107M | $-26M | $-40M | $-41M | $-662M | $532M | $-93M | $214M | $-148M | $14M | $151M | $-454M | $556M | $40M | |
| Free Cash Flow | · | $-283M | · | · | · | $-172M | · | · | · | $-165M | · | · | · | $-53M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -8.8% | -9.5% | · | -6.3% | -6.2% | -5.1% | · | -4.1% | -7.2% | -6.1% | · | -9.7% | -7.1% | -8.6% | · | -15.1% | |
| ROE | -9.8% | -10.3% | · | -6.8% | -6.6% | -5.4% | · | -4.3% | -7.5% | -6.5% | · | -10.5% | -7.6% | -9.3% | · | -17.4% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.7 | 7.5 | · | 8.8 | 11.1 | 17.7 | · | 17.9 | 17.9 | 17.4 | · | 15.1 | 21.8 | 15.9 | · | 9.4 | |
| Quick Ratio | 5.5 | 7.2 | · | 8.6 | 10.8 | 17.2 | · | 17.6 | 17.5 | 17.1 | · | 14.8 | 21.4 | 15.6 | · | 9.2 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $19.05 | $20.76 | · | $22.25 | $23.66 | $24.82 | · | $27.47 | $17.96 | $18.24 | · | $14.75 | $15.28 | $11.72 | · | $5.93 | |
| Cash Flow / Share | · | $-2.01 | · | · | · | $-1.23 | · | · | · | $-1.42 | · | · | · | $-0.55 | · | · | |
| Cash / Share | $1.27 | $1.81 | · | $2.16 | $2.36 | $2.69 | · | $8.44 | $4.69 | $5.62 | · | $5.73 | $5.66 | $4.72 | · | $4.60 | |
| Dividend / Share | · | · | · | · | · | · | $0.00 | $0.00 | $0.00 | $0.00 | · | $0.00 | $0.00 | $0.00 | · | $0.00 | |
| EPS (TTM) | $-7.64 | $-6.89 | · | $-4.84 | $-4.11 | $-3.99 | · | $-4.61 | $-4.69 | $-4.29 | · | $-3.34 | $-3.36 | $-3.46 | · | $-2.95 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-1.06B | $-947M | · | $-657M | $-547M | $-510M | · | $-508M | $-497M | $-437M | · | $-300M | $-265M | $-245M | · | $-174M | |
| Market Cap | $8.42B | $8.39B | · | $4.68B | $4.22B | $4.87B | · | $14.22B | $8.35B | $7.43B | · | $4.85B | $4.68B | $3.02B | · | $1.45B | |
| P/E | -7.6 | -8.4 | · | -7.4 | -7.9 | -9.5 | · | -24.8 | -16.1 | -15.9 | · | -15.3 | -14.9 | -10.8 | · | -8.1 | |
| P/B | 3.1 | 2.8 | · | 1.6 | 1.4 | 1.5 | · | 4.2 | 4.2 | 3.7 | · | 3.5 | 3.3 | 3.2 | · | 4.0 | |
| P / Tangible Book | 3.1 | 2.8 | · | 1.6 | 1.4 | 1.5 | · | 4.2 | 4.2 | 3.7 | · | 3.5 | 3.3 | 3.2 | · | 4.0 | |
| P / Cash Flow | · | -29.9 | · | · | · | -29.3 | · | · | · | -46.7 | · | · | · | -63.4 | · | · | |
| Earnings Yield | -13.1% | -11.9% | · | -13.4% | -12.6% | -10.6% | · | -4.0% | -6.2% | -6.3% | · | -6.6% | -6.7% | -9.2% | · | -12.3% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Net Income | $-767M | $-464M | $-402M | $-223M | $-100M |
| Diluted EPS | $-5.63 | $-3.80 | $-4.14 | $-3.44 | $-1.93 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 7.9 | 12.8 | 7.5 | 23.3 | 8.9 |
| Quick Ratio | 7.6 | 12.5 | 7.4 | 23.0 | 8.6 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-669M | $-475M | $-313M | $-176M | $-128M |
Institutional owners (13F) 365 filers · $9.6B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
365
Value held
$9.6B
New positions
48
Exited positions
46
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 48 (-28 vs prior Q) | 46 (+23 vs prior Q) | 141 (+6 vs prior Q) | 100 (+22 vs prior Q) | -9.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FMR LLC | $1,212,179,482 | 20,852,907 | 12.58% | Shares |
| JANUS HENDERSON GROUP PLC | $960,231,221 | 16,575,875 | 9.97% | Shares |
| BlackRock, Inc. | $701,520,339 | 12,068,129 | 7.28% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $667,018,440 | 11,474,599 | 6.92% | Shares |
| VANGUARD GROUP INC | $562,630,515 | 12,193,986 | 5.84% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $407,000,973 | 7,001,565 | 4.23% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $383,283,120 | 6,593,551 | 3.98% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $369,048,710 | 6,348,679 | 3.83% | Shares |
| STATE STREET CORP | $311,090,172 | 5,351,698 | 3.23% | Shares |
| Deep Track Capital, LP | $249,959,000 | 4,300,000 | 2.59% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $201,130,269 | 3,459,363 | 2.09% | Shares |
| Kynam Capital Management, LP | $169,875,334 | 2,922,335 | 1.76% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $143,722,240 | 2,472,428 | 1.49% | Shares |
| Caligan Partners LP | $127,225,411 | 2,188,636 | 1.32% | Shares |
| Paradigm Biocapital Advisors LP | $123,692,037 | 2,127,852 | 1.28% | Shares |
| Bellevue Group AG | $114,628,582 | 1,971,935 | 1.19% | Shares |
| D. E. Shaw & Co., Inc. | $110,555,819 | 1,901,872 | 1.15% | Shares |
| MAVERICK CAPITAL LTD | $93,777,757 | 1,613,242 | 0.97% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $85,149,522 | 1,464,812 | 0.88% | Shares |
| Pivotal bioVenture Partners Investment Advisor LLC | $82,862,571 | 1,425,470 | 0.86% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $80,229,411 | 1,380,219 | 0.83% | Shares |
| GOLDMAN SACHS GROUP INC | $78,519,679 | 1,350,760 | 0.82% | Shares |
| NORTHERN TRUST CORP | $74,416,399 | 1,280,172 | 0.77% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $72,929,898 | 1,254,600 | 0.76% | Put option |
| NORGES BANK | $72,418,645 | 1,245,805 | 0.75% | Shares |
| JPMORGAN CHASE & CO | $71,190,303 | 1,227,346 | 0.74% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $69,446,041 | 1,194,754 | 0.72% | Shares |
| Polar Capital Holdings Plc | $68,938,867 | 1,185,943 | 0.72% | Shares |
| BANK OF AMERICA CORP /DE/ | $62,710,550 | 1,078,798 | 0.65% | Shares |
| Caption Management, LLC | $60,873,736 | 1,047,200 | 0.63% | Put option |
| VANGUARD FIDUCIARY TRUST CO | $54,098,219 | 930,642 | 0.56% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $51,154,400 | 880,000 | 0.53% | Shares |
| Saturn V Capital Management LP | $49,579,891 | 852,914 | 0.51% | Shares |
| Capital Research Global Investors | $48,640,917 | 836,761 | 0.50% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $47,242,251 | 812,700 | 0.49% | Call option |
| NOVO HOLDINGS A/S | $46,504,000 | 800,000 | 0.48% | Shares |
| MORGAN STANLEY | $46,371,409 | 797,718 | 0.48% | Shares |
| AMERICAN CENTURY COMPANIES INC | $45,468,483 | 782,184 | 0.47% | Shares |
| UBS Group AG | $45,138,585 | 776,511 | 0.47% | Shares |
| Clearbridge Investments, LLC | $43,713,700 | 751,999 | 0.45% | Shares |
| Pictet Asset Management Holding SA | $40,384,015 | 694,719 | 0.42% | Shares |
| Caption Management, LLC | $37,767,061 | 649,700 | 0.39% | Call option |
| Eversept Partners, LP | $36,619,110 | 629,952 | 0.38% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $35,726,698 | 614,600 | 0.37% | Put option |
| JANE STREET GROUP, LLC | $35,162,837 | 604,900 | 0.37% | Put option |
| FEDERATED HERMES, INC. | $34,945,488 | 601,161 | 0.36% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $31,050,895 | 534,163 | 0.32% | Shares |
| ALGERT GLOBAL LLC | $29,956,889 | 515,343 | 0.31% | Shares |
| Bank of New York Mellon Corp | $29,189,124 | 502,135 | 0.30% | Shares |
| BROWN ADVISORY INC | $28,310,299 | 487,017 | 0.29% | Shares |
Company insiders 27 insiders · 10 officers · 17 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Grant Pickering | CHIEF EXECUTIVE OFFICER | Sept. 8, 2026 F | 429,902 | 0 | 19 | $-3,634,889 |
| Andrew Guggenhime | PRESIDENT AND CFO | Sept. 8, 2026 F | 95,316 | 0 | 5 | $-1,641,731 |
| Jim Wassil | EVP, Chief Scientific Ofc, COO | Oct. 1, 2026 M | 145,435 | 0 | 20 | $-1,557,861 |
| Elvia Cowan | SVP, Finance & CAO | Sept. 8, 2026 F | 27,860 | 0 | 6 | $-988,635 |
| Harpreet S. Dhaliwal | Chief Technical Ops Officer | Sept. 8, 2026 F | 68,085 | 0 | 2 | $-1,389,901 |
| Luis Jodar | Chief Medical Officer | Sept. 4, 2026 A | 52,632 | 0 | 0 | $0 |
| Mikhail Eydelman | SVP, GEN COUNSEL & CORP SEC | March 5, 2025 M | 41,620 | 0 | 0 | $0 |
| Jeff Fairman | VP, Research | Dec. 30, 2022 A | 286,227 | 0 | 0 | $0 |
| Paul Sauer | SVP Process Dev, Manufacturing | Dec. 30, 2022 A | 13,822 | 0 | 0 | $0 |
| Jane Wright Mitchell | General Counsel | Aug. 16, 2021 M | 3,125 | 0 | 0 | $0 |
| John Markels | Director | July 16, 2026 A | · | 0 | 0 | $0 |
| Moncef Slaoui | Director | June 22, 2026 A | · | 0 | 0 | $0 |
| Jacks Lee | Director | June 15, 2026 A | 6,856 | 0 | 0 | $0 |
| Teri Loxam | Director | June 15, 2026 A | 12,481 | 0 | 0 | $0 |
| John Furey | Director | June 15, 2026 A | 5,306 | 0 | 0 | $0 |
| Carlos V Paya | Director | June 15, 2026 A | 6,856 | 0 | 0 | $0 |
| Halley E Gilbert | Director | June 15, 2026 A | 12,481 | 0 | 0 | $0 |
| Heath Lukatch | Director | June 15, 2026 A | 19,481 | 0 | 0 | $0 |
| Olivier Brandicourt | Director | June 15, 2026 A | 4,699 | 0 | 0 | $0 |
| Anne S Drapeau | Director | June 15, 2026 A | 12,481 | 0 | 0 | $0 |
| Peter Hirth | Director | June 6, 2024 A | 7,175 | 0 | 0 | $0 |
| Michael E. Kamarck | Director | June 13, 2023 A | 5,625 | 0 | 0 | $0 |
| Robert Lorne Hopfner | Director | June 2, 2021 A | 1,405,418 | 0 | 0 | $0 |
| Patrick J. Heron | Director | June 2, 2021 A | 2,309,554 | 0 | 0 | $0 |
| Kurt Von Emster | Director | June 2, 2021 A | 4,168,718 | 0 | 0 | $0 |
| William J Newell | Director | Dec. 9, 2020 A | 66,684 | 0 | 0 | $0 |
| Abingworth LLP | 10% owner | June 11, 2020 A | · | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 49 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| MEDI · Harbor ETF Trust | 2.06% | 15,695 NS | July 31, 2026 | N-PORT |
| JXX · Janus Detroit Street Trust | 1.76% | 8,672 NS | July 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.81% | 74,294 NS | July 31, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 0.76% | 6,549 NS | July 31, 2026 | N-PORT |
| IBB · iShares Trust | 0.62% | 1,079,439 SH | Sept. 11, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.56% | 10,515 SH | Oct. 2, 2026 | Daily |
| IWO · iShares Trust | 0.34% | 836,418 SH | Sept. 11, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.30% | 95,213 SH | Aug. 19, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.29% | 17,582 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.25% | 3,367,565 SH | Sept. 11, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.25% | 11,628 SH | Oct. 2, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.23% | 1,911,818 SH | Aug. 19, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.23% | 758,123 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.23% | 63,087 NS | July 31, 2026 | N-PORT |
| PWS · Pacer Funds Trust | 0.23% | 1,015 NS | July 31, 2026 | N-PORT |
| FFSM · FIDELITY COVINGTON TRUST | 0.21% | 58,584 NS | July 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.21% | 71,663 SH | Aug. 19, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.19% | 23,130 NS | July 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.18% | 84,781 SH | Oct. 2, 2026 | Daily |
| FFLG · FIDELITY COVINGTON TRUST | 0.17% | 18,030 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.16% | 37,325 SH | Aug. 19, 2026 | Daily |
| ESSC · Strategy Shares | 0.16% | 1,044 NS | July 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.15% | 56,781 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.15% | 24,427 SH | Sept. 11, 2026 | Daily |
| ESML · iShares Trust | 0.14% | 64,196 SH | Sept. 10, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.11% | 320,390 NS | July 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.10% | 3,311,956 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.10% | 367,549 SH | Aug. 19, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.10% | 58,132 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.09% | 1,507,400 SH | Aug. 19, 2026 | Daily |
| WSML · iShares Trust | 0.07% | 7,424 SH | Sept. 10, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.03% | 2,901 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.03% | 245,965 NS | July 31, 2026 | N-PORT |
| FBCG · FIDELITY COVINGTON TRUST | 0.03% | 32,976 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.02% | 12,523 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.02% | 7,426 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.01% | 32,072 NS | July 31, 2026 | N-PORT |
| IYY · iShares Trust | 0.01% | 5,488 SH | Sept. 10, 2026 | Daily |
| ITOT · iShares Trust | 0.01% | 171,199 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 34,426 SH | Sept. 10, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.01% | 39,051 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 4,588,975 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 105,104 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 10,861 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.01% | 29,043 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 402,389 SH | Sept. 11, 2026 | Daily |
| ISCB · iShares Trust | · | 5,835 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 11,665 SH | Sept. 11, 2026 | Daily |
| SMMV · iShares Trust | · | 8,696 SH | Aug. 19, 2026 | Daily |
PCVX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 17 analysts
BUY
Median target
$110.00
+94.8%
7 41.2%
Strong Buy
8 47.1%
Buy
2 11.8%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
9 analysts · 2026-10-01Mean target $108.67 +92.4%
← Below all targets
Current price $56.48
Low$67.00
Mean$108.67
High$163.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PCVX | $6.05B | -8.2 | · | · | -26.6% | · |
| ARWR | $4.68B | -3449.0 | 23258.2% | -0.20% | -0.50% | · |
| CYTK | $7.81B | -9.7 | 376.6% | -891.6% | 152.7% | · |
| PTGX | $5.47B | -42.6 | -89.4% | -282.8% | -20.3% | · |
| KYMR | $6.33B | -21.1 | -16.7% | -794.0% | -24.4% | · |
| TGTX | $4.63B | 10.8 | 87.3% | 72.6% | 96.7% | · |
| PRAX | $7.43B | -21.9 | 249.5% | · | -47.3% | · |
| SYRE | $2.56B | 10.1 | -62.0% | · | -26.5% | · |
| CAI | $7.62B | -8.4 | 97.0% | -8.4% | -13.2% | · |
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
No open signal right now — no card is filled, and that's honest.
My Metrics Your personal watchlist — selected rows from Full Fundamentals
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Source: SEC 10-Q filed Aug 5, 2026