18,900 Shares of Vaxcyte, Inc. $PCVX Bought by BG Investment Services LLC

Key Points

• BG Investment Services bought 18,900 Vaxcyte shares worth approximately $1.075 million in the third quarter. Institutional investors collectively own 96.78% of the company.
• Vaxcyte shares opened at $60.43, down 3.9%, with a 52-week range of $39.87 to $90.75. The company reported a quarterly loss of $1.97 per share, slightly better than analyst expectations.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $110.50, although insiders sold 92,890 shares worth approximately $6.32 million over the past 90 days.

BG Investment Services LLC bought a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,900 shares of the company's stock, valued at approximately $1,075,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. First Light Asset Management LLC raised its position in shares of Vaxcyte by 143.4% during the 2nd quarter. First Light Asset Management LLC now owns 345,157 shares of the company's stock worth $20,064,000 after purchasing an additional 203,373 shares during the last quarter. Bank of America Corp DE grew its holdings in Vaxcyte by 73.4% during the 1st quarter. Bank of America Corp DE now owns 1,216,843 shares of the company's stock valued at $70,711,000 after buying an additional 515,209 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Vaxcyte during the 2nd quarter valued at $1,906,000. Seven Fleet Capital Management LP increased its position in Vaxcyte by 406.4% during the first quarter. Seven Fleet Capital Management LP now owns 128,450 shares of the company's stock worth $7,464,000 after buying an additional 103,085 shares in the last quarter. Finally, Candriam S.C.A. purchased a new position in Vaxcyte during the first quarter worth $18,306,000. Hedge funds and other institutional investors own 96.78% of the company's stock.

Vaxcyte Stock Down 3.9%

PCVX opened at $60.43 on Friday. Vaxcyte, Inc. has a 52-week low of $39.87 and a 52-week high of $90.75. The company has a 50 day moving average of $61.59 and a two-hundred day moving average of $57.28. The company has a market cap of $8.99 billion, a P/E ratio of -7.92 and a beta of 1.23.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, topping analysts' consensus estimates of ($2.06) by $0.09. During the same quarter in the previous year, the firm earned ($1.22) EPS. Research analysts anticipate that Vaxcyte, Inc. will post -7.47 earnings per share for the current year.

Insider Activity at Vaxcyte

In other news, insider Harpreet Dhaliwal sold 17,000 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $55.00, for a total value of $935,000.00. Following the completion of the sale, the insider owned 76,756 shares of the company's stock, valued at $4,221,580. This represents a 18.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Guggenhime sold 10,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $53.89, for a total value of $538,900.00. Following the completion of the sale, the chief financial officer owned 105,176 shares of the company's stock, valued at approximately $5,667,934.64. This trade represents a 8.68% 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 have sold a total of 92,890 shares of company stock valued at $6,320,569 over the last 90 days. Corporate insiders own 3.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on PCVX shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $120.00 price objective on shares of Vaxcyte in a research note on Monday, October 12th. Wall Street Zen raised shares of Vaxcyte from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Vaxcyte in a report on Friday, October 2nd. Bank of America reduced their target price on shares of Vaxcyte from $133.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, September 28th. Finally, Guggenheim raised their price target on shares of Vaxcyte from $116.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, October 5th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $110.50.

Vaxcyte Company Profile

Vaxcyte, Inc NASDAQ: PCVX is a clinical-stage biotechnology company focused on developing vaccines designed to protect against serious bacterial diseases. The company is headquartered in San Carlos, California, and uses its proprietary cell-free protein synthesis and conjugation technologies to develop vaccine candidates intended to provide broad and durable immune protection.

Vaxcyte's lead programs target pneumococcal disease, an infection caused by Streptococcus pneumoniae.

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