Alyeska Investment Group L.P. Cuts Holdings in Vaxcyte, Inc. $PCVX

Key Points

• Alyeska Investment Group cut its Vaxcyte stake by 16.8% in the second quarter, selling 73,309 shares and retaining 362,272 shares worth approximately $21.1 million. Institutional investors collectively own 96.78% of the company.
• Analyst sentiment remains generally positive, with five Buy, two Hold, and one Sell rating, resulting in a consensus “Moderate Buy” rating and an $86 price target.
• Vaxcyte shares opened at $60.74, near their 52-week high of $65.00. The clinical-stage vaccine company reported a quarterly loss of $1.97 per share, slightly better than the $2.06 loss analysts expected, while insiders sold $6.46 million of stock during the quarter.

Alyeska Investment Group L.P. lowered its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 16.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,272 shares of the company's stock after selling 73,309 shares during the period. Alyeska Investment Group L.P. owned about 0.24% of Vaxcyte worth $21,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hsbc Holdings PLC raised its holdings in Vaxcyte by 4.0% in the second quarter. Hsbc Holdings PLC now owns 4,151 shares of the company's stock valued at $241,000 after acquiring an additional 159 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Vaxcyte by 33.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company's stock worth $34,000 after acquiring an additional 184 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in Vaxcyte by 2.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,335 shares of the company's stock worth $484,000 after acquiring an additional 231 shares in the last quarter. CWM LLC increased its position in shares of Vaxcyte by 9.0% in the 4th quarter. CWM LLC now owns 2,840 shares of the company's stock valued at $131,000 after purchasing an additional 234 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Vaxcyte by 27.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,344 shares of the company's stock valued at $78,000 after purchasing an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vaxcyte in a research report on Monday, July 6th. Wall Street Zen raised 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 report on Wednesday, August 12th. Five investment 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.00.

Vaxcyte Trading Up 1.5%

PCVX stock opened at $60.74 on Tuesday. Vaxcyte, Inc. has a twelve month low of $30.32 and a twelve month high of $65.00. The company's 50 day moving average is $57.65 and its two-hundred day moving average is $56.03. The stock has a market cap of $9.04 billion, a P/E ratio of -7.96 and a beta of 1.23.

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

Insider Transactions at Vaxcyte

In related news, insider Harpreet S. 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 directly owned 76,756 shares of the company's stock, valued at $4,221,580. This represents a 18.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Guggenhime sold 10,000 shares of the company's 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 directly 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 118,396 shares of company stock valued at $6,459,390 over the last quarter. Company insiders own 3.30% of the company's stock.

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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