Seven Fleet Capital Management LP Buys New Position in Vaxcyte, Inc. $PCVX

Seven Fleet Capital Management LP bought a new stake in Vaxcyte, Inc. (NASDAQ:PCVX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,365 shares of the company’s stock, valued at approximately $1,170,000. Vaxcyte comprises about 0.9% of Seven Fleet Capital Management LP’s holdings, making the stock its 19th biggest position.

Several other institutional investors also recently added to or reduced their stakes in PCVX. JPMorgan Chase & Co. boosted its stake in Vaxcyte by 30.6% during the third quarter. JPMorgan Chase & Co. now owns 1,565,036 shares of the company’s stock worth $56,373,000 after buying an additional 366,266 shares in the last quarter. Pivotal bioVenture Partners Investment Advisor LLC raised its stake in shares of Vaxcyte by 5.2% in the 3rd quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 1,372,425 shares of the company’s stock valued at $49,435,000 after buying an additional 67,300 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Vaxcyte by 21.6% in 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 in the last quarter. HighVista Strategies LLC lifted its holdings in shares of Vaxcyte by 159.4% during the 3rd quarter. HighVista Strategies LLC now owns 86,802 shares of the company’s stock worth $3,127,000 after acquiring an additional 53,345 shares during the period. Finally, Bridgefront Capital LLC lifted its holdings in shares of Vaxcyte by 127.2% during the 3rd quarter. Bridgefront Capital LLC now owns 24,325 shares of the company’s stock worth $876,000 after acquiring an additional 13,617 shares during the period. 96.78% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Grant Pickering sold 22,461 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were 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 owned 474,703 shares of the company’s stock, valued at approximately $24,921,907.50. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 that occurred on Monday, June 1st. The shares were sold at an average price of $49.52, for a total transaction of $111,420.00. Following the completion of the transaction, the chief operating officer owned 158,494 shares of the company’s stock, valued at $7,848,622.88. This trade represents a 1.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 41,961 shares of company stock valued at $2,233,490 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BTIG Research upped their target price 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. Jefferies Financial Group restated a “buy” rating on shares of Vaxcyte in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a report on Wednesday, April 8th. Finally, Wall Street Zen lowered Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Vaxcyte Stock Performance

Shares of NASDAQ PCVX opened at $51.44 on Friday. Vaxcyte, Inc. has a 52-week low of $29.08 and a 52-week high of $65.00. The business has a fifty day moving average of $53.56 and a two-hundred day moving average of $52.70. The stock has a market cap of $7.43 billion, a PE ratio of -7.48 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 for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same period last year, the company earned ($1.04) EPS. Analysts predict that Vaxcyte, Inc. will post -7.56 earnings per share for the current year.

Vaxcyte 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.