ADAR1 Capital Management LLC Makes New $8.49 Million Investment in Vaxcyte, Inc. $PCVX

Key Points

• ADAR1 Capital Management purchased 146,034 Vaxcyte shares in the second quarter, valued at approximately $8.49 million, representing about 0.10% of the company.
• Institutional investors own 96.78% of Vaxcyte, while insiders sold 120,646 shares worth $6.57 million over the past 90 days under pre-arranged trading plans.
• Analyst sentiment is mixed but averages to a “Moderate Buy” rating, with an average price target of $86; Vaxcyte recently reported a quarterly loss of $1.97 per share, beating estimates by $0.09.

ADAR1 Capital Management LLC purchased a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 146,034 shares of the company's stock, valued at approximately $8,489,000. ADAR1 Capital Management LLC owned approximately 0.10% of Vaxcyte as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of PCVX. EverSource Wealth Advisors LLC raised its position in Vaxcyte by 33.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company's stock valued at $34,000 after purchasing an additional 184 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of Vaxcyte by 2.9% during the first quarter. Meeder Advisory Services Inc. now owns 8,335 shares of the company's stock worth $484,000 after purchasing an additional 231 shares during the last quarter. CWM LLC grew its holdings in shares of Vaxcyte by 9.0% during the fourth quarter. CWM LLC now owns 2,840 shares of the company's stock worth $131,000 after purchasing an additional 234 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Vaxcyte by 7.0% in the first quarter. Principal Financial Group Inc. now owns 5,275 shares of the company's stock valued at $307,000 after buying an additional 343 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Vaxcyte by 156.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the company's stock valued at $27,000 after buying an additional 364 shares during the period. 96.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Grant Pickering sold 22,461 shares of the business's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $52.50, for a total value of $1,179,202.50. Following the transaction, the chief executive officer owned 474,703 shares in the company, valued at $24,921,907.50. The trade was a 4.52% decrease in their ownership of the stock. The transaction 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, COO Jim Wassil sold 2,250 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $49.52, for a total transaction of $111,420.00. Following the completion of the transaction, the chief operating officer owned 158,494 shares in the company, valued at approximately $7,848,622.88. The trade was a 1.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 120,646 shares of company stock worth $6,570,810 over the last ninety days. Corporate insiders own 3.30% of the company's stock.

Analyst Ratings Changes

PCVX has been the topic of a number of recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a report on Monday, July 6th. Wall Street Zen upgraded Vaxcyte from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Zacks Research raised Vaxcyte from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. 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. Based on data from MarketBeat.com, Vaxcyte currently has an average rating of "Moderate Buy" and an average price target of $86.00.

Vaxcyte Stock Performance

NASDAQ:PCVX opened at $61.09 on Wednesday. The company has a market capitalization of $9.09 billion, a PE ratio of -8.01 and a beta of 1.23. The company has a 50 day simple moving average of $56.91 and a two-hundred day simple moving average of $55.88. Vaxcyte, Inc. has a fifty-two week low of $29.87 and a fifty-two week high of $65.00.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.06) by $0.09. During the same quarter last year, the company posted ($1.22) earnings per share. Research analysts predict that Vaxcyte, Inc. will post -7.6 EPS for the current year.

About Vaxcyte

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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