Spruce Street Capital LP Makes New Investment in Vaxcyte, Inc. $PCVX

Spruce Street Capital LP purchased a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 306,047 shares of the company’s stock, valued at approximately $17,790,512,000. Vaxcyte comprises approximately 3.5% of Spruce Street Capital LP’s portfolio, making the stock its 9th biggest holding. Spruce Street Capital LP owned approximately 0.21% of Vaxcyte as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PCVX. Algert Global LLC raised its holdings in Vaxcyte by 41.6% in the 2nd quarter. Algert Global LLC now owns 515,343 shares of the company’s stock worth $29,957,000 after purchasing an additional 151,359 shares during the period. Sanctuary Advisors LLC purchased a new position in Vaxcyte during the second quarter valued at $325,000. Northwestern Mutual Wealth Management Co. bought a new stake in Vaxcyte during the second quarter valued at about $78,000. Landscape Capital Management L.L.C. bought a new stake in Vaxcyte during the second quarter valued at about $710,000. Finally, Callan Family Office LLC bought a new stake in Vaxcyte during the second quarter valued at about $244,000. Institutional investors own 96.78% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Andrew Guggenhime sold 10,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $53.89, for a total value of $538,900.00. Following the completion of the transaction, the chief financial officer owned 105,176 shares of the company’s stock, valued at $5,667,934.64. This represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 2,250 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $53.86, for a total value of $121,185.00. Following the sale, the chief operating officer owned 157,541 shares of the company’s stock, valued at $8,485,158.26. This represents a 1.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 120,646 shares of company stock valued at $6,570,810 in the last ninety days. Insiders own 3.30% of the company’s stock.

Vaxcyte Price Performance

Shares of PCVX stock opened at $61.87 on Tuesday. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of -8.11 and a beta of 1.23. Vaxcyte, Inc. has a one year low of $29.87 and a one year high of $65.00. The company’s fifty day moving average price is $56.67 and its 200-day moving average price is $55.84.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.06) by $0.09. During the same quarter in the previous year, the firm posted ($1.22) EPS. Equities research analysts expect that Vaxcyte, Inc. will post -7.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Zacks Research raised Vaxcyte from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded Vaxcyte from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a report on Monday, July 6th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.00.

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.