Fmr LLC Trims Stock Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

Fmr LLC trimmed its holdings in Vaxcyte, Inc. (NASDAQ:PCVX) by 2.3% in the third quarter, Holdings Channel reports. The institutional investor owned 15,800,667 shares of the company’s stock after selling 366,673 shares during the quarter. Fmr LLC owned 0.13% of Vaxcyte worth $1,805,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PCVX. Charles Schwab Investment Management Inc. grew its stake in Vaxcyte by 47.9% in 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 in the last quarter. Farallon Capital Management LLC grew its stake in Vaxcyte by 11,000.0% in the 1st quarter. Farallon Capital Management LLC now owns 377,400 shares of the company’s stock valued at $25,780,000 after buying an additional 374,000 shares in the last quarter. Maverick Capital Ltd. grew its stake in Vaxcyte by 93.7% in the 2nd quarter. Maverick Capital Ltd. now owns 687,908 shares of the company’s stock valued at $51,944,000 after buying an additional 332,777 shares in the last quarter. RA Capital Management L.P. grew its position in shares of Vaxcyte by 4.0% during the 1st quarter. RA Capital Management L.P. now owns 8,203,754 shares of the company’s stock valued at $560,398,000 after purchasing an additional 312,500 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Vaxcyte by 625.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 343,552 shares of the company’s stock valued at $25,942,000 after purchasing an additional 296,164 shares in the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PCVX shares. BTIG Research boosted their price target on shares of Vaxcyte from $98.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Leerink Partners lifted 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 lifted 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. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Vaxcyte in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $147.50.

Vaxcyte Price Performance

Vaxcyte stock opened at $91.45 on Wednesday. The firm has a fifty day simple moving average of $106.93 and a two-hundred day simple moving average of $89.94. Vaxcyte, Inc. has a twelve month low of $48.35 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 quarter in the prior year, the company earned ($0.91) earnings per share. As a group, research analysts anticipate that Vaxcyte, Inc. will post -4.14 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Grant Pickering sold 7,098 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $109.21, for a total transaction of $775,172.58. Following the completion of the transaction, the chief executive officer now directly owns 138,581 shares of the company’s stock, valued at approximately $15,134,431.01. This represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mikhail Eydelman sold 5,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $109.27, for a total transaction of $546,350.00. Following the transaction, the senior vice president now directly owns 28,623 shares of the company’s stock, valued at approximately $3,127,635.21. This trade represents a 14.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,464 shares of company stock valued at $11,455,576 over the last three months. Insiders own 3.10% of the company’s stock.

About Vaxcyte

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.