502,135 Shares in Vaxcyte, Inc. $PCVX Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 502,135 Vaxcyte shares worth approximately $29.2 million in the second quarter, giving it a 0.35% stake. Institutional investors collectively own 96.78% of PCVX.
• Vaxcyte reported a quarterly loss of $1.97 per share, beating analysts’ estimate of a $2.06 loss. Analysts expect a full-year loss of approximately $7.60 per share.
• Analyst sentiment remains a consensus “Moderate Buy”, with a $86 average price target versus the stock’s reported $59.83 price. Meanwhile, insiders sold 120,646 shares worth $6.57 million over the past 90 days.

Bank of New York Mellon Corp acquired a new stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 502,135 shares of the company's stock, valued at approximately $29,189,000. Bank of New York Mellon Corp owned about 0.35% of Vaxcyte at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PCVX. Handelsbanken Fonder AB boosted its holdings in shares of Vaxcyte by 20.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 49,400 shares of the company's stock worth $2,872,000 after purchasing an additional 8,500 shares during the last quarter. Empowered Funds LLC lifted its position in Vaxcyte by 111.8% during the first quarter. Empowered Funds LLC now owns 9,692 shares of the company's stock worth $563,000 after buying an additional 5,116 shares in the last quarter. Seven Fleet Capital Management LP lifted 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. DV Trading LLC acquired a new position in Vaxcyte during the first quarter worth $1,162,000. Finally, Bank of America Corp DE boosted its stake in Vaxcyte by 73.4% during the first quarter. Bank of America Corp DE now owns 1,216,843 shares of the company's stock worth $70,711,000 after buying an additional 515,209 shares during the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

Vaxcyte Price Performance

Shares of NASDAQ:PCVX opened at $59.83 on Friday. The firm has a market capitalization of $8.90 billion, a PE ratio of -7.84 and a beta of 1.23. Vaxcyte, Inc. has a 1 year low of $30.32 and a 1 year high of $65.00. The firm's 50-day moving average is $57.48 and its two-hundred day moving average is $55.99.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings data 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 last year, the firm posted ($1.22) earnings per share. Analysts expect that Vaxcyte, Inc. will post -7.6 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, insider Harpreet S. Dhaliwal sold 17,000 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $55.00, for a total value of $935,000.00. Following the completion of the transaction, the insider owned 76,756 shares in the company, valued at $4,221,580. The trade was a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 on Monday, June 1st. The stock was sold at an average price of $49.52, for a total value of $111,420.00. Following the sale, the chief operating officer directly owned 158,494 shares in the company, valued at $7,848,622.88. This represents a 1.40% 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. Over the last 90 days, insiders sold 120,646 shares of company stock worth $6,570,810. 3.30% of the stock is currently owned by corporate insiders.

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.

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