B. Metzler seel. Sohn & Co. AG Makes New Investment in Vaxcyte, Inc. $PCVX

Key Points

• B. Metzler seel. Sohn & Co. AG purchased 17,235 Vaxcyte shares in the second quarter, valued at approximately $4.4 million. Institutional investors collectively own 96.78% of PCVX.
• Analyst sentiment remains broadly positive, with five Buy, two Hold, and one Sell ratings, producing a consensus “Moderate Buy” rating and an $86 price target.
• Vaxcyte shares opened at $61.17, near their 52-week high of $65.00. The clinical-stage biotech reported a quarterly loss of $1.97 per share, which was better than the expected $2.06 loss.

B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 17,235 shares of the company's stock, valued at approximately $4,412,000.

Several other large investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Vaxcyte by 27.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,344 shares of the company's stock worth $78,000 after acquiring an additional 291 shares during the period. Hsbc Holdings PLC grew its position in shares of Vaxcyte by 4.0% during the second quarter. Hsbc Holdings PLC now owns 4,151 shares of the company's stock worth $241,000 after purchasing an additional 159 shares in the last quarter. Wellington Management Group LLP raised its stake in Vaxcyte by 24.7% during the 2nd quarter. Wellington Management Group LLP now owns 7,001,565 shares of the company's stock valued at $407,001,000 after purchasing an additional 1,386,968 shares during the period. Empowered Funds LLC bought a new stake in Vaxcyte during the 2nd quarter valued at approximately $315,000. Finally, Capstone Investment Advisors LLC purchased a new position in Vaxcyte in the 2nd quarter worth approximately $271,000. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Vaxcyte from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Zacks Research raised shares of Vaxcyte from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.00.

Insider Buying and Selling

In other news, COO Jim Wassil sold 3,477 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $61.07, for a total transaction of $212,340.39. Following the transaction, the chief operating officer owned 155,041 shares of the company's stock, valued at approximately $9,468,353.87. The trade was a 2.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Harpreet Dhaliwal sold 17,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $55.00, for a total transaction of $935,000.00. Following the completion of the sale, the insider directly owned 76,756 shares in the company, valued at approximately $4,221,580. This represents a 18.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 121,873 shares of company stock worth $6,671,730 in the last 90 days. Company insiders own 3.30% of the company's stock.

Vaxcyte Stock Performance

NASDAQ PCVX opened at $61.17 on Friday. The company has a market capitalization of $9.10 billion, a P/E ratio of -8.02 and a beta of 1.22. Vaxcyte, Inc. has a one year low of $30.81 and a one year high of $65.00. The stock has a 50 day moving average price of $58.13 and a 200-day moving average price of $56.17.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings results 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 prior year, the firm posted ($1.22) earnings per share. As a group, equities analysts predict that Vaxcyte, Inc. will post -7.6 EPS for the current fiscal year.

Vaxcyte 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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