Geode Capital Management LLC Reduces Position in Vaxcyte, Inc. $PCVX

Geode Capital Management LLC lessened its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,866,305 shares of the company’s stock after selling 17,735 shares during the period. Geode Capital Management LLC owned 2.19% of Vaxcyte worth $132,271,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PCVX. Royal Bank of Canada grew its stake in Vaxcyte by 115.2% during the 1st quarter. Royal Bank of Canada now owns 29,471 shares of the company’s stock valued at $1,113,000 after acquiring an additional 15,774 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Vaxcyte during the 1st quarter valued at about $219,000. Caxton Associates LLP purchased a new stake in Vaxcyte during the 1st quarter valued at about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Vaxcyte by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 513,998 shares of the company’s stock valued at $19,409,000 after acquiring an additional 41,034 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Vaxcyte by 13.8% during the 2nd quarter. Cetera Investment Advisers now owns 7,681 shares of the company’s stock valued at $250,000 after acquiring an additional 932 shares in the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Wednesday, April 8th. BTIG Research increased their price target on shares of Vaxcyte from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Vaxcyte in a research note on Tuesday, March 10th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Vaxcyte has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Insider Activity at Vaxcyte

In other news, 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 transaction, the chief accounting officer directly owned 28,975 shares in the company, valued at approximately $1,738,500. This represents a 9.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 7,395 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $58.88, for a total transaction of $435,417.60. Following the sale, the chief operating officer owned 166,818 shares in the company, valued at approximately $9,822,243.84. This trade represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 19,287 shares of company stock worth $1,106,319. Company insiders own 3.30% of the company’s stock.

Vaxcyte Stock Performance

Shares of PCVX stock opened at $48.76 on Friday. The firm’s 50 day moving average price is $55.38 and its 200-day moving average price is $52.76. Vaxcyte, Inc. has a one year low of $29.08 and a one year high of $65.00. The firm has a market cap of $7.04 billion, a P/E ratio of -7.09 and a beta of 1.24.

Vaxcyte (NASDAQ:PCVX) last issued 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 period in the previous year, the business posted ($1.04) EPS. As a group, research analysts predict that Vaxcyte, Inc. will post -7.85 EPS for the current fiscal year.

Vaxcyte Company 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.