Readystate Asset Management LP Sells 95,547 Shares of Vaxcyte, Inc. $PCVX

Readystate Asset Management LP lowered its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 72.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,090 shares of the company’s stock after selling 95,547 shares during the period. Readystate Asset Management LP’s holdings in Vaxcyte were worth $2,097,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in Vaxcyte by 33.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $34,000 after purchasing an additional 184 shares during the period. Meeder Advisory Services Inc. raised its position in shares of Vaxcyte by 2.9% in the first quarter. Meeder Advisory Services Inc. now owns 8,335 shares of the company’s stock worth $484,000 after buying an additional 231 shares in the last quarter. CWM LLC boosted its stake in Vaxcyte by 9.0% during the fourth quarter. CWM LLC now owns 2,840 shares of the company’s stock valued at $131,000 after buying an additional 234 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Vaxcyte by 0.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 31,274 shares of the company’s stock valued at $1,443,000 after buying an additional 252 shares during the period. Finally, Principal Financial Group Inc. grew its position in Vaxcyte by 7.0% during the first quarter. Principal Financial Group Inc. now owns 5,275 shares of the company’s stock worth $307,000 after buying an additional 343 shares in the last quarter. Institutional investors own 96.78% of the company’s stock.

Insider Activity

In related news, CEO Grant Pickering sold 2,000 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $55.65, for a total transaction of $111,300.00. Following the transaction, the chief executive officer owned 133,215 shares of the company’s stock, valued at approximately $7,413,414.75. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 2,250 shares of Vaxcyte stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $56.33, for a total transaction of $126,742.50. Following the completion of the transaction, the chief operating officer owned 156,760 shares in the company, valued at approximately $8,830,290.80. The trade was a 1.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 93,646 shares of company stock valued at $5,103,592. Corporate insiders own 3.30% of the company’s stock.

Vaxcyte Price Performance

NASDAQ:PCVX opened at $54.60 on Wednesday. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of -7.94 and a beta of 1.22. The business has a 50 day moving average of $52.83 and a 200 day moving average of $54.77. Vaxcyte, Inc. has a 1-year low of $29.08 and a 1-year high of $65.00.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing analysts’ consensus estimates of ($1.74) by ($0.56). During the same quarter last year, the company posted ($1.04) EPS. As a group, sell-side analysts anticipate that Vaxcyte, Inc. will post -7.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PCVX shares. Zacks Research lowered Vaxcyte from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Wall Street Zen downgraded Vaxcyte from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.00.

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.