First Light Asset Management LLC grew its stake in Vaxcyte, Inc. (NASDAQ:PCVX – Free Report) by 143.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 345,157 shares of the company’s stock after purchasing an additional 203,373 shares during the period. Vaxcyte makes up approximately 1.2% of First Light Asset Management LLC’s holdings, making the stock its 25th largest holding. First Light Asset Management LLC’s holdings in Vaxcyte were worth $20,064,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Engineers Gate Manager LP bought a new position in shares of Vaxcyte during the 2nd quarter worth approximately $1,906,000. IFP Advisors Inc raised its stake in Vaxcyte by 72.8% during the second quarter. IFP Advisors Inc now owns 560 shares of the company’s stock worth $33,000 after acquiring an additional 236 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Vaxcyte by 4.3% during the second quarter. Arizona State Retirement System now owns 33,755 shares of the company’s stock valued at $1,962,000 after acquiring an additional 1,394 shares during the period. Nykredit A S acquired a new stake in shares of Vaxcyte in the 2nd quarter valued at $280,000. Finally, Corient Private Wealth LP grew its holdings in shares of Vaxcyte by 866.3% in the 2nd quarter. Corient Private Wealth LP now owns 36,894 shares of the company’s stock worth $2,145,000 after purchasing an additional 33,076 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have commented on PCVX. Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a research report on Monday, July 6th. Wall Street Zen raised Vaxcyte from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Zacks Research upgraded Vaxcyte from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Vaxcyte currently has an average rating of “Moderate Buy” and an average price target of $86.00.
Vaxcyte Stock Down 1.4%
Shares of NASDAQ PCVX opened at $59.51 on Thursday. The firm’s 50-day simple moving average is $58.41 and its 200 day simple moving average is $56.32. The company has a market cap of $8.86 billion, a price-to-earnings ratio of -7.80 and a beta of 1.22. Vaxcyte, Inc. has a 12-month low of $30.81 and a 12-month high of $65.00.
Vaxcyte (NASDAQ:PCVX – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, topping analysts’ consensus estimates of ($2.06) by $0.09. During the same quarter in the prior year, the business posted ($1.22) EPS. On average, equities analysts expect that Vaxcyte, Inc. will post -7.6 earnings per share for the current year.
Insider Activity at Vaxcyte
In related news, CFO Andrew Guggenhime sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $53.00, for a total value of $530,000.00. Following the completion of the sale, the chief financial officer owned 104,395 shares of the company’s stock, valued at $5,532,935. This trade represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Grant Pickering sold 22,461 shares of the business’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 transaction of $1,179,202.50. Following the completion of the transaction, the chief executive officer owned 474,703 shares of the company’s stock, valued at $24,921,907.50. This trade represents a 4.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 124,588 shares of company stock valued at $6,835,592 over the last ninety days. Company insiders own 3.30% of the company’s stock.
About Vaxcyte
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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