Spruce Street Capital LP Takes Position in Vaxcyte, Inc. $PCVX

Spruce Street Capital LP acquired a new stake in Vaxcyte, Inc. (NASDAQ:PCVX) during the fourth quarter, HoldingsChannel reports. The firm acquired 400,360 shares of the company’s stock, valued at approximately $18,473,000. Vaxcyte comprises about 6.1% of Spruce Street Capital LP’s investment portfolio, making the stock its 5th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in Vaxcyte by 156.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the company’s stock worth $27,000 after buying an additional 364 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Vaxcyte by 1,463.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 641 shares of the company’s stock valued at $30,000 after buying an additional 600 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Vaxcyte by 33.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $34,000 after buying an additional 184 shares during the period. Allworth Financial LP lifted its holdings in shares of Vaxcyte by 148.9% in the 3rd quarter. Allworth Financial LP now owns 1,222 shares of the company’s stock valued at $44,000 after buying an additional 731 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Vaxcyte in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Insider Activity at Vaxcyte

In other news, CAO Elvia Cowan sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the completion of the transaction, the chief accounting officer directly owned 28,975 shares of the company’s stock, valued at approximately $1,738,500. This represents a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 2,250 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $49.52, for a total value of $111,420.00. Following the transaction, the chief operating officer directly owned 158,494 shares of the company’s stock, valued at $7,848,622.88. This trade represents a 1.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,500 shares of company stock worth $419,288 in the last 90 days. 3.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

PCVX has been the subject of several research reports. Wall Street Zen cut Vaxcyte from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 28th. BTIG Research boosted their price target on 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 Wednesday, April 8th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Vaxcyte in a research report on Tuesday, March 10th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Vaxcyte has an average rating of “Moderate Buy” and an average target price of $86.00.

Vaxcyte Stock Performance

NASDAQ:PCVX opened at $49.56 on Tuesday. Vaxcyte, Inc. has a one year low of $29.08 and a one year high of $65.00. The business’s 50-day simple moving average is $54.11 and its 200 day simple moving average is $52.68. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of -7.20 and a beta of 1.24.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same quarter in the previous year, the business posted ($1.04) earnings per share. On average, equities research analysts predict that Vaxcyte, Inc. will post -7.56 EPS for the current year.

Vaxcyte Company 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.