Eventide Asset Management LLC Reduces Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Eventide Asset Management LLC cut its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 48.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383,454 shares of the company’s stock after selling 355,699 shares during the period. Eventide Asset Management LLC owned approximately 0.31% of Vaxcyte worth $43,817,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PCVX. Charles Schwab Investment Management Inc. lifted its holdings in shares of Vaxcyte by 47.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,837 shares of the company’s stock valued at $148,075,000 after buying an additional 419,600 shares during the period. Maverick Capital Ltd. lifted its holdings in Vaxcyte by 93.7% in the second quarter. Maverick Capital Ltd. now owns 687,908 shares of the company’s stock valued at $51,944,000 after acquiring an additional 332,777 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Vaxcyte by 625.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 343,552 shares of the company’s stock worth $25,942,000 after purchasing an additional 296,164 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in Vaxcyte in the third quarter worth about $30,752,000. Finally, Clearbridge Investments LLC purchased a new position in Vaxcyte in the second quarter worth about $14,056,000. 96.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PCVX. Leerink Partners raised their price objective on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Jefferies Financial Group raised their price objective on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Bank of America raised their price objective on shares of Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a report on Wednesday, November 6th. Finally, Mizuho raised their price objective on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $147.50.

Vaxcyte Stock Up 2.8 %

NASDAQ PCVX opened at $93.98 on Friday. The business has a 50-day moving average price of $106.02 and a 200-day moving average price of $90.00. Vaxcyte, Inc. has a twelve month low of $48.81 and a twelve month high of $121.06.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.27. During the same period in the prior year, the company earned ($0.91) earnings per share. Sell-side analysts forecast that Vaxcyte, Inc. will post -4.14 EPS for the current year.

Insider Buying and Selling

In other news, CFO Andrew Guggenhime sold 42,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $115.39, for a total transaction of $4,846,380.00. Following the sale, the chief financial officer now directly owns 90,383 shares of the company’s stock, valued at $10,429,294.37. This represents a 31.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Grant Pickering sold 2,366 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $103.89, for a total value of $245,803.74. Following the transaction, the chief executive officer now owns 137,398 shares of the company’s stock, valued at $14,274,278.22. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,464 shares of company stock worth $11,455,576. 3.10% of the stock is owned by insiders.

Vaxcyte Company Profile

Vaxcyte, Inc, a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease. The company also develops VAX-31 to protect against emerging strains and to help address antibiotic resistance; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting keystone pathogen responsible for periodontitis; and VAX-GI to prevent Shigella, a bacterial illness.