Pivotal bioVenture Partners Investment Advisor LLC Raises Stock Position in Vaxcyte, Inc. $PCVX

Pivotal bioVenture Partners Investment Advisor LLC grew its stake in Vaxcyte, Inc. (NASDAQ:PCVX) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,372,425 shares of the company’s stock after acquiring an additional 67,300 shares during the period. Vaxcyte accounts for approximately 28.6% of Pivotal bioVenture Partners Investment Advisor LLC’s holdings, making the stock its largest position. Pivotal bioVenture Partners Investment Advisor LLC owned approximately 1.05% of Vaxcyte worth $49,435,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in Vaxcyte during the second quarter worth about $32,109,000. Westfield Capital Management Co. LP boosted its position in Vaxcyte by 42.4% during the second quarter. Westfield Capital Management Co. LP now owns 3,068,898 shares of the company’s stock valued at $99,770,000 after purchasing an additional 913,761 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Vaxcyte in the second quarter valued at approximately $26,318,000. State Street Corp increased its position in shares of Vaxcyte by 12.1% during the 2nd quarter. State Street Corp now owns 4,942,235 shares of the company’s stock worth $160,672,000 after purchasing an additional 534,552 shares during the last quarter. Finally, Eventide Asset Management LLC increased its position in shares of Vaxcyte by 80.4% during the 2nd quarter. Eventide Asset Management LLC now owns 848,141 shares of the company’s stock worth $27,573,000 after purchasing an additional 377,911 shares during the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.

Insider Buying and Selling

In other Vaxcyte news, COO Jim Wassil sold 7,395 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $58.88, for a total transaction of $435,417.60. Following the transaction, the chief operating officer owned 166,818 shares in the company, valued at $9,822,243.84. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Harpreet S. Dhaliwal sold 9,743 shares of Vaxcyte stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $46.69, for a total value of $454,900.67. Following the sale, the insider directly owned 23,928 shares of the company’s stock, valued at $1,117,198.32. This represents a 28.94% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 31,261 shares of company stock valued at $1,593,767. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Leerink Partners set a $77.00 price objective on Vaxcyte and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. BTIG Research boosted their target price on shares of Vaxcyte from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a research report on Friday, January 9th. Needham & Company LLC increased their price target on shares of Vaxcyte from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, Guggenheim reissued a “buy” rating and issued a $116.00 price objective on shares of Vaxcyte in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.50.

Vaxcyte Stock Down 2.9%

Vaxcyte stock opened at $54.58 on Friday. The company’s 50-day moving average price is $54.08 and its two-hundred day moving average price is $45.80. The stock has a market cap of $7.86 billion, a P/E ratio of -9.71 and a beta of 1.31. Vaxcyte, Inc. has a twelve month low of $27.66 and a twelve month high of $76.61.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.34). During the same period in the prior year, the company posted ($1.12) earnings per share. Equities analysts anticipate that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal 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.