Allspring Global Investments Holdings LLC Lowers Stake in Vaxcyte, Inc. (NASDAQ:PCVX)

Allspring Global Investments Holdings LLC decreased its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 43.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 335,990 shares of the company's stock after selling 257,533 shares during the period. Allspring Global Investments Holdings LLC owned 0.26% of Vaxcyte worth $12,687,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in shares of Vaxcyte by 188.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 398 shares of the company's stock valued at $33,000 after purchasing an additional 260 shares during the last quarter. National Bank of Canada FI bought a new position in Vaxcyte during the 4th quarter valued at approximately $41,000. Parallel Advisors LLC increased its holdings in shares of Vaxcyte by 203.6% in the 1st quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock worth $61,000 after purchasing an additional 1,071 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Vaxcyte by 77,500.0% in the fourth quarter. Assetmark Inc. now owns 776 shares of the company's stock worth $64,000 after acquiring an additional 775 shares during the period. Finally, J.Safra Asset Management Corp grew its holdings in shares of Vaxcyte by 62.9% in the fourth quarter. J.Safra Asset Management Corp now owns 1,907 shares of the company's stock worth $156,000 after acquiring an additional 736 shares during the period. Hedge funds and other institutional investors own 96.78% of the company's stock.

Vaxcyte Trading Down 3.8%

Shares of NASDAQ PCVX traded down $1.25 during trading hours on Monday, reaching $32.00. The stock had a trading volume of 1,041,104 shares, compared to its average volume of 1,474,957. The business's fifty day moving average price is $33.30 and its two-hundred day moving average price is $56.46. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -8.02 and a beta of 1.19. Vaxcyte, Inc. has a 52-week low of $27.66 and a 52-week high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.02). During the same period in the prior year, the firm posted ($0.85) earnings per share. Equities research analysts anticipate that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCVX has been the topic of several analyst reports. Evercore ISI upgraded Vaxcyte to a "strong-buy" rating in a research report on Monday, March 31st. Needham & Company LLC reissued a "buy" rating and set a $90.00 price objective on shares of Vaxcyte in a research note on Tuesday, April 8th. Guggenheim reaffirmed a "buy" rating and set a $160.00 target price on shares of Vaxcyte in a research note on Wednesday, March 12th. The Goldman Sachs Group cut their target price on Vaxcyte from $138.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Finally, Bank of America lowered their price target on Vaxcyte from $157.00 to $137.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $136.50.

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.