Vanguard Group Inc. Trims Position in Vaxcyte, Inc. $PCVX

Vanguard Group Inc. lessened its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,193,986 shares of the company’s stock after selling 126,467 shares during the period. Vanguard Group Inc. owned 0.09% of Vaxcyte worth $562,631,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PCVX. Allworth Financial LP grew its holdings in Vaxcyte by 148.9% during the third quarter. Allworth Financial LP now owns 1,222 shares of the company’s stock valued at $44,000 after purchasing an additional 731 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Vaxcyte during the third quarter valued at about $45,000. CIBC Private Wealth Group LLC grew its holdings in Vaxcyte by 22,500.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company’s stock valued at $49,000 after purchasing an additional 1,350 shares during the period. FNY Investment Advisers LLC bought a new stake in Vaxcyte during the third quarter valued at about $72,000. Finally, Danske Bank A S bought a new stake in Vaxcyte during the third quarter valued at about $76,000. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Price Performance

Shares of PCVX stock opened at $58.49 on Tuesday. Vaxcyte, Inc. has a 1 year low of $28.09 and a 1 year high of $65.00. The stock’s 50 day simple moving average is $58.73 and its two-hundred day simple moving average is $51.59. The company has a market cap of $8.45 billion, a PE ratio of -10.41 and a beta of 1.30.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.34). During the same quarter last year, the firm posted ($1.12) earnings per share. Equities research analysts expect that Vaxcyte, Inc. will post -7 EPS for the current year.

Insider Buying and Selling

In other Vaxcyte news, COO Jim Wassil sold 2,250 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.83, for a total transaction of $127,867.50. Following the sale, the chief operating officer directly owned 160,744 shares in the company, valued at $9,135,081.52. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the sale, the chief accounting officer owned 28,975 shares in the company, valued at approximately $1,738,500. This trade represents a 9.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 17,037 shares of company stock worth $994,899. Company insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PCVX. BTIG Research upped their price objective on Vaxcyte from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Vaxcyte in a research note on Tuesday, March 10th. Guggenheim reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Vaxcyte in a research note on Monday, February 2nd. Wall Street Zen lowered Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Wednesday, April 8th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Vaxcyte presently has an average rating of “Moderate Buy” and an average price target of $86.00.

Vaxcyte Profile

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company’s platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte’s lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.