Hsbc Holdings PLC Reduces Position in Vaxcyte, Inc. $PCVX

Hsbc Holdings PLC trimmed its holdings in Vaxcyte, Inc. (NASDAQ:PCVX) by 84.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,798 shares of the company’s stock after selling 42,827 shares during the period. Hsbc Holdings PLC’s holdings in Vaxcyte were worth $363,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in shares of Vaxcyte by 2.2% in the 4th quarter. Janus Henderson Group PLC now owns 13,387,188 shares of the company’s stock worth $617,731,000 after acquiring an additional 282,985 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Vaxcyte by 35.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company’s stock valued at $521,213,000 after acquiring an additional 2,981,038 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Vaxcyte by 18.5% during the 4th quarter. Wellington Management Group LLP now owns 5,966,310 shares of the company’s stock valued at $275,286,000 after acquiring an additional 933,539 shares in the last quarter. State Street Corp lifted its stake in Vaxcyte by 4.1% during the fourth quarter. State Street Corp now owns 4,980,005 shares of the company’s stock worth $229,777,000 after purchasing an additional 194,116 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP lifted its stake in Vaxcyte by 7.5% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,068,020 shares of the company’s stock worth $187,698,000 after purchasing an additional 283,265 shares during the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Grant Pickering sold 22,461 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Guggenhime sold 10,000 shares of Vaxcyte stock in a transaction on Monday, July 6th. The stock was sold at an average price of $57.28, for a total value of $572,800.00. Following the completion of the transaction, the chief financial officer owned 104,395 shares in the company, valued at $5,979,745.60. The trade was a 8.74% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 75,448 shares of company stock worth $4,091,197. 3.30% of the stock is owned by insiders.

Analysts Set New Price Targets

PCVX has been the subject of several research reports. Wall Street Zen lowered shares of Vaxcyte from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a research note on Monday, July 6th. Finally, Zacks Research cut Vaxcyte from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $86.00.

Vaxcyte Stock Up 0.3%

NASDAQ:PCVX opened at $56.20 on Friday. The business’s 50-day moving average price is $52.34 and its 200 day moving average price is $54.23. Vaxcyte, Inc. has a 52-week low of $29.08 and a 52-week high of $65.00. The firm has a market cap of $8.12 billion, a P/E ratio of -8.17 and a beta of 1.22.

Vaxcyte (NASDAQ:PCVX) last released its 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 period last year, the company posted ($1.04) EPS. Sell-side analysts expect that Vaxcyte, Inc. will post -7.91 EPS 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.