Alliancebernstein L.P. Sells 75,151 Shares of Vaxcyte, Inc. $PCVX

Key Points

• AllianceBernstein L.P. sold 75,151 shares of Vaxcyte, Inc., reducing its stake by 4.2%, leaving it with approximately 1.7 million shares valued at $64.4 million.
• Vaxcyte's stock has a Buy consensus rating from analysts, with a price target around $130.00, despite reporting a loss of $1.22 per share in its latest earnings.
• Institutional investors hold a significant majority of Vaxcyte's stock, owning about 96.78% of the company's shares.

Alliancebernstein L.P. reduced its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,704,211 shares of the company's stock after selling 75,151 shares during the period. Alliancebernstein L.P. owned about 1.32% of Vaxcyte worth $64,351,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC acquired a new stake in shares of Vaxcyte in the first quarter valued at approximately $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Vaxcyte in the 1st quarter valued at $35,000. Parallel Advisors LLC lifted its holdings in Vaxcyte by 203.6% during the 1st quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock valued at $61,000 after purchasing an additional 1,071 shares during the last quarter. IFP Advisors Inc boosted its position in Vaxcyte by 376.4% during the first quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock worth $62,000 after purchasing an additional 1,306 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of Vaxcyte by 81.6% in the first quarter. Advisors Asset Management Inc. now owns 1,929 shares of the company's stock valued at $73,000 after purchasing an additional 867 shares during the last quarter. Institutional investors and hedge funds own 96.78% of the company's stock.

Vaxcyte Stock Performance

Shares of NASDAQ:PCVX traded down $0.89 during midday trading on Friday, reaching $32.17. The company's stock had a trading volume of 1,465,354 shares, compared to its average volume of 1,406,471. Vaxcyte, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $121.06. The firm has a 50 day moving average price of $33.16 and a two-hundred day moving average price of $39.28. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -7.83 and a beta of 1.04.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($1.22) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same period last year, the company posted ($1.10) earnings per share. As a group, research analysts anticipate that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Analyst Ratings Changes

PCVX has been the subject of a number of research reports. Cowen restated a "buy" rating on shares of Vaxcyte in a research note on Thursday, August 7th. The Goldman Sachs Group initiated coverage on shares of Vaxcyte in a research report on Friday. They set a "neutral" rating and a $38.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $106.25.

About Vaxcyte

Vaxcyte, Inc, a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease. The company also develops VAX-31 to protect against emerging strains and to help address antibiotic resistance; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting keystone pathogen responsible for periodontitis; and VAX-GI to prevent Shigella, a bacterial illness.