Pictet Asset Management Holding SA lowered its holdings in Vaxcyte, Inc. (NASDAQ:PCVX – Free Report) by 20.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 700,311 shares of the company’s stock after selling 181,124 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Vaxcyte were worth $40,695,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of PCVX. T. Rowe Price Investment Management Inc. lifted its stake in shares of Vaxcyte by 35.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company’s stock valued at $521,213,000 after buying an additional 2,981,038 shares in the last quarter. Caligan Partners LP bought a new stake in shares of Vaxcyte during the fourth quarter worth about $78,660,000. Adage Capital Partners GP L.L.C. increased its position in shares of Vaxcyte by 418.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,725,000 shares of the company’s stock worth $79,592,000 after acquiring an additional 1,392,000 shares in the last quarter. Polar Capital Holdings Plc raised its holdings in shares of Vaxcyte by 302.6% in the 4th quarter. Polar Capital Holdings Plc now owns 1,672,783 shares of the company’s stock worth $77,182,000 after acquiring an additional 1,257,253 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Vaxcyte in the 4th quarter worth about $56,703,000. Institutional investors own 96.78% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on PCVX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Wednesday, April 8th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Vaxcyte in a research report on Tuesday, March 10th. Finally, Wall Street Zen downgraded Vaxcyte from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.00.
Insiders Place Their Bets
In other news, CEO Grant Pickering sold 22,461 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $52.50, for a total value of $1,179,202.50. Following the completion of the transaction, the chief executive officer directly owned 474,703 shares of the company’s stock, valued at $24,921,907.50. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of the 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 directly owned 28,975 shares of the company’s stock, valued at $1,738,500. The trade was a 9.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 66,198 shares of company stock worth $3,571,655 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.
Vaxcyte Price Performance
PCVX opened at $58.13 on Wednesday. Vaxcyte, Inc. has a fifty-two week low of $29.08 and a fifty-two week high of $65.00. The firm has a market capitalization of $8.39 billion, a P/E ratio of -8.45 and a beta of 1.24. The company’s 50-day moving average is $52.42 and its 200 day moving average is $53.20.
Vaxcyte (NASDAQ:PCVX – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same quarter in the previous year, the firm posted ($1.04) EPS. On average, equities research analysts expect that Vaxcyte, Inc. will post -7.91 earnings per share for the current year.
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.
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