Victory Capital Management Inc. Lowers Stock Holdings in Vaxcyte, Inc. $PCVX

Victory Capital Management Inc. cut its position in Vaxcyte, Inc. (NASDAQ:PCVX) by 30.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,892 shares of the company’s stock after selling 135,727 shares during the period. Victory Capital Management Inc. owned 0.24% of Vaxcyte worth $11,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Vaxcyte by 2.7% during the third quarter. Vanguard Group Inc. now owns 12,320,453 shares of the company’s stock worth $443,783,000 after purchasing an additional 323,368 shares during the last quarter. State Street Corp increased its holdings in shares of Vaxcyte by 12.1% during the 2nd quarter. State Street Corp now owns 4,942,235 shares of the company’s stock worth $160,672,000 after buying an additional 534,552 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Vaxcyte by 21.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,732,715 shares of the company’s stock valued at $134,452,000 after buying an additional 663,817 shares during the period. Geode Capital Management LLC raised its position in shares of Vaxcyte by 5.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,011,140 shares of the company’s stock valued at $97,903,000 after buying an additional 142,086 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Vaxcyte by 30.6% in the third quarter. JPMorgan Chase & Co. now owns 1,565,036 shares of the company’s stock valued at $56,373,000 after acquiring an additional 366,266 shares during the last quarter. 96.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on PCVX. Jefferies Financial Group restated a “buy” rating on shares of Vaxcyte in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a research report on Friday, January 9th. Leerink Partners set a $77.00 price objective on shares of Vaxcyte and gave the stock an “outperform” rating in a report on Wednesday, November 19th. BTIG Research lifted their target price on Vaxcyte from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Needham & Company LLC boosted their price target on shares of Vaxcyte from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Vaxcyte presently has an average rating of “Moderate Buy” and an average target price of $94.50.

Insider Buying and Selling

In other Vaxcyte news, insider Harpreet S. Dhaliwal sold 9,743 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $46.69, for a total value of $454,900.67. Following the completion of the transaction, the insider owned 23,928 shares in the company, valued at $1,117,198.32. This represents a 28.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Elvia Cowan sold 2,500 shares of Vaxcyte stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.59, for a total transaction of $146,475.00. Following the completion of the transaction, the chief accounting officer directly owned 30,867 shares in the company, valued at $1,808,497.53. The trade was a 7.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,261 shares of company stock worth $1,593,767 in the last ninety days. 3.10% of the stock is owned by corporate insiders.

Vaxcyte Trading Down 1.2%

Shares of NASDAQ:PCVX opened at $57.53 on Thursday. Vaxcyte, Inc. has a 52 week low of $27.66 and a 52 week high of $76.61. The company’s 50 day moving average is $53.72 and its two-hundred day moving average is $45.55. The company has a market cap of $8.28 billion, a PE ratio of -10.24 and a beta of 1.31.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings results 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 period in the prior year, the firm earned ($1.12) earnings per share. As a group, equities research analysts expect that Vaxcyte, Inc. will post -4.21 EPS for the current 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.