Amundi Sells 63,416 Shares of Vaxcyte, Inc. $PCVX

Key Points

• Amundi reduced its stake in Vaxcyte, Inc. by 15.6%, selling 63,416 shares and retaining approximately 343,512 shares valued at $12.97 million.
• Despite the sell-off by Amundi, other institutional investors like Nisa Investment Advisors and Avior Wealth Management increased their positions in Vaxcyte during the same period.
• Analysts maintain a positive outlook with a "Buy" rating for Vaxcyte, forecasting an average target price of $121.75 per share.

Amundi lessened its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 15.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 343,512 shares of the company's stock after selling 63,416 shares during the period. Amundi owned about 0.27% of Vaxcyte worth $12,971,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PCVX. RA Capital Management L.P. lifted its position in Vaxcyte by 40.3% in the first quarter. RA Capital Management L.P. now owns 12,189,149 shares of the company's stock valued at $460,262,000 after acquiring an additional 3,499,959 shares during the last quarter. Wellington Management Group LLP grew its position in Vaxcyte by 44.4% during the first quarter. Wellington Management Group LLP now owns 6,416,930 shares of the company's stock worth $242,303,000 after buying an additional 1,972,918 shares during the period. Baker BROS. Advisors LP lifted its holdings in shares of Vaxcyte by 1,211.0% in the first quarter. Baker BROS. Advisors LP now owns 640,885 shares of the company's stock valued at $24,200,000 after purchasing an additional 592,000 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Vaxcyte in the first quarter valued at about $20,988,000. Finally, Paradigm Biocapital Advisors LP lifted its stake in shares of Vaxcyte by 57.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,422,787 shares of the company's stock valued at $116,469,000 after buying an additional 518,255 shares during the period. Institutional investors and hedge funds own 96.78% of the company's stock.

Vaxcyte Stock Down 3.6%

Shares of PCVX stock traded down $1.17 during trading hours on Monday, reaching $31.00. 1,260,839 shares of the stock traded hands, compared to its average volume of 1,422,392. Vaxcyte, Inc. has a 1-year low of $27.66 and a 1-year high of $121.06. The business has a fifty day moving average price of $33.14 and a 200 day moving average price of $38.47. The firm has a market capitalization of $4.02 billion, a PE ratio of -7.54 and a beta of 1.04.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.22) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same quarter in the previous year, the firm earned ($1.10) EPS. Research analysts expect 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 a number of recent analyst reports. Cowen reaffirmed a "buy" rating on shares of Vaxcyte in a research note on Thursday, August 7th. The Goldman Sachs Group assumed coverage on shares of Vaxcyte in a report on Friday. They set a "neutral" rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Vaxcyte presently 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.