Brown Advisory Inc. Cuts Stock Position in Vaxcyte, Inc. $PCVX

Brown Advisory Inc. cut its holdings in Vaxcyte, Inc. (NASDAQ:PCVX) by 16.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 566,925 shares of the company’s stock after selling 110,060 shares during the quarter. Brown Advisory Inc.’s holdings in Vaxcyte were worth $26,158,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of Vaxcyte by 33.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. CWM LLC increased its position in shares of Vaxcyte by 9.0% during the fourth quarter. CWM LLC now owns 2,840 shares of the company’s stock worth $131,000 after purchasing an additional 234 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Vaxcyte by 0.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 31,274 shares of the company’s stock worth $1,443,000 after purchasing an additional 252 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Vaxcyte by 156.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the company’s stock worth $27,000 after purchasing an additional 364 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Vaxcyte by 3.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 10,083 shares of the company’s stock worth $465,000 after purchasing an additional 369 shares in the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Jim Wassil sold 2,250 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $49.52, for a total transaction of $111,420.00. Following the transaction, the chief operating officer owned 158,494 shares of the company’s stock, valued at approximately $7,848,622.88. This represents a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 company’s stock in a transaction dated Tuesday, April 7th. The stock was 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 position. 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. In the last three months, insiders have sold 7,500 shares of company stock worth $419,288. 3.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PCVX. Jefferies Financial Group reiterated a “buy” rating on shares of Vaxcyte in a research report on Tuesday, March 10th. Wall Street Zen lowered 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. Finally, BTIG Research boosted 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. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Vaxcyte Stock Up 4.4%

Shares of Vaxcyte stock opened at $49.56 on Tuesday. Vaxcyte, Inc. has a 52 week low of $29.08 and a 52 week high of $65.00. The business’s fifty day simple moving average is $54.11 and its 200-day simple moving average is $52.68. The firm has a market cap of $7.16 billion, a PE ratio of -7.20 and a beta of 1.24.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Wednesday, May 6th. The company reported ($2.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same period in the previous year, the business earned ($1.04) earnings per share. As a group, equities analysts expect that Vaxcyte, Inc. will post -7.56 earnings per share for the current year.

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.