Engineers Gate Manager LP Acquires New Stake in Vaxcyte, Inc. $PCVX

Engineers Gate Manager LP bought a new position in Vaxcyte, Inc. (NASDAQ:PCVX) in the second quarter, Holdings Channel reports. The firm bought 32,784 shares of the company’s stock, valued at approximately $1,906,000.

Other large investors also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its position in shares of Vaxcyte by 72.8% in the second quarter. IFP Advisors Inc now owns 560 shares of the company’s stock valued at $33,000 after purchasing an additional 236 shares during the period. Arizona State Retirement System grew its position in shares of Vaxcyte by 4.3% in the second quarter. Arizona State Retirement System now owns 33,755 shares of the company’s stock valued at $1,962,000 after purchasing an additional 1,394 shares in the last quarter. Nykredit A S purchased a new position in shares of Vaxcyte in the second quarter valued at $280,000. Corient Private Wealth LP lifted its holdings in Vaxcyte by 866.3% during the 2nd quarter. Corient Private Wealth LP now owns 36,894 shares of the company’s stock worth $2,145,000 after purchasing an additional 33,076 shares in the last quarter. Finally, Readystate Asset Management LP lifted its holdings in Vaxcyte by 332.5% during the 2nd quarter. Readystate Asset Management LP now owns 156,090 shares of the company’s stock worth $9,074,000 after purchasing an additional 120,000 shares in the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PCVX has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a research note on Monday, July 6th. Finally, Zacks Research raised shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.00.

Vaxcyte Trading Down 0.6%

PCVX stock opened at $59.21 on Wednesday. The company’s 50 day moving average is $58.46 and its 200 day moving average is $56.28. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of -7.76 and a beta of 1.22. Vaxcyte, Inc. has a 1-year low of $30.81 and a 1-year high of $65.00.

Vaxcyte (NASDAQ:PCVX) last announced its earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.06) by $0.09. During the same quarter in the prior year, the business earned ($1.22) EPS. As a group, sell-side analysts forecast that Vaxcyte, Inc. will post -7.6 EPS for the current fiscal year.

Insider Activity at Vaxcyte

In other news, CFO Andrew Guggenhime sold 10,000 shares of Vaxcyte stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $53.89, for a total transaction of $538,900.00. Following the completion of the sale, the chief financial officer directly owned 105,176 shares of the company’s stock, valued at approximately $5,667,934.64. The trade was a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Grant Pickering sold 2,000 shares of the company’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $55.65, for a total transaction of $111,300.00. Following the completion of the transaction, the chief executive officer owned 133,215 shares of the company’s stock, valued at $7,413,414.75. This trade represents a 1.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 124,588 shares of company stock worth $6,835,592. Corporate insiders own 3.30% of the company’s stock.

About Vaxcyte

Vaxcyte, Inc is a clinical-stage biotechnology company focused on developing vaccines to prevent serious bacterial infections. The company’s lead programs target pneumococcal disease, which can cause pneumonia, meningitis, bloodstream infections and other invasive illnesses. Vaxcyte is developing broad-spectrum pneumococcal conjugate vaccine candidates designed to protect against a wide range of bacterial serotypes.

Vaxcyte’s pipeline has included VAX-24, an investigational 24-valent pneumococcal conjugate vaccine, and VAX-31, a next-generation candidate designed to cover 31 serotypes.