As Stuttgart sporting director Fabian Wohlgemuth hinted after the 2-2 draw in the friendly against FC Paris, the two clubs are still far apart on the transfer fee and that remains a major problem in the negotiations.
"We are still in talks," Wohlgemuth explained, before adding that a positive outcome from the Swabians' point of view was "a long way off".
Reports say Wolfsburg would be ready to let their striker, who wants to leave, go if an interested club put the minimum fee of €25 million on the table. Right now, Stuttgart do not seem willing to do that.
Getty ImagesVfB Stuttgart begin training camp in Bavaria on Monday
Following the recent sale of centre-back Konstantinos Koulierakis, who joined Roma for a reported €17 million, VfL are not under any real pressure to bring in transfer income. They are therefore holding firm in the negotiations. Wolfsburg also continue to benefit from strong financial backing from VW.
Pejcinovic himself is said to be open to a move to VfB. The 21-year-old was one of the few bright spots last season as VfL Wolfsburg were relegated to the 2. Bundesliga for the first time. He scored 12 goals in 34 appearances in all competitions. His contract with the Lower Saxony club runs until 2029.
At the very least, Pejcinovic was absent from the Wolfsburg squad for Friday's 3-1 friendly win against Telstar 1893. Wohlgemuth could not say whether that was linked to the transfer talks: "That question would be better directed at those responsible at VfL."
On Monday, Stuttgart, coached by Sebastian Hoeneß, head to Grassau on Lake Chiemsee for a training camp. Germany's World Cup players Angelo Stiller, Jamie Leweling and Deniz Undav had already rejoined the squad for performance tests on Friday, along with Ermedin Demirovic (Bosnia-Herzegovina) and Jeremy Arevalo (Ecuador). Bilal El Khannouss (Morocco) and Luca Jaquez (Switzerland) are also expected back for the camp in Bavaria.