Bank of New York Mellon Corp Has $27.57 Million Stock Holdings in Vaxcyte, Inc. $PCVX

Key Points

• Bank of New York Mellon increased its Vaxcyte stake by 5.6% in the first quarter to 474,526 shares valued at approximately $27.6 million. Institutional investors collectively own 96.78% of PCVX.
• Vaxcyte insiders sold 75,448 shares worth about $4.1 million over the past 90 days, including sales by the CEO and CFO under pre-arranged Rule 10b5-1 plans.
• Analyst sentiment is mixed, with six Buy ratings, one Hold and two Sell ratings; the consensus rating is Hold with an $86 target price. The company missed first-quarter earnings estimates, reporting a loss of $2.30 per share versus the expected $1.74 loss.

Bank of New York Mellon Corp lifted its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,526 shares of the company's stock after purchasing an additional 25,163 shares during the period. Bank of New York Mellon Corp owned 0.33% of Vaxcyte worth $27,575,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Sanctuary Advisors LLC boosted its stake in Vaxcyte by 34.2% during the first quarter. Sanctuary Advisors LLC now owns 6,264 shares of the company's stock worth $364,000 after acquiring an additional 1,595 shares in the last quarter. Principal Financial Group Inc. increased its stake in Vaxcyte by 7.0% in the first quarter. Principal Financial Group Inc. now owns 5,275 shares of the company's stock valued at $307,000 after purchasing an additional 343 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of Vaxcyte during the first quarter valued at about $128,000. Candriam S.C.A. bought a new position in shares of Vaxcyte during the 1st quarter worth about $18,306,000. Finally, Abel Hall LLC bought a new position in shares of Vaxcyte during the 1st quarter worth about $376,000. Institutional investors and hedge funds own 96.78% of the company's stock.

Insider Activity at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 22,461 shares of Vaxcyte stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $52.50, for a total transaction of $1,179,202.50. Following the transaction, the chief executive officer directly owned 474,703 shares of the company's stock, valued at $24,921,907.50. The trade was a 4.52% decrease in their position. The transaction was disclosed in a legal filing 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 on Monday, July 6th. The stock was sold at an average price of $57.28, for a total transaction of $572,800.00. Following the completion of the sale, the chief financial officer owned 104,395 shares of the company's stock, valued at approximately $5,979,745.60. The trade was a 8.74% 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 75,448 shares of company stock valued at $4,091,197 over the last 90 days. Insiders own 3.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Zacks Research lowered Vaxcyte from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. Wall Street Zen lowered Vaxcyte from a "sell" rating to a "strong sell" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Vaxcyte in a research note on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $86.00.

Vaxcyte Stock Performance

Shares of NASDAQ PCVX opened at $55.50 on Tuesday. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of -8.07 and a beta of 1.22. Vaxcyte, Inc. has a fifty-two week low of $29.08 and a fifty-two week high of $65.00. The firm's 50-day simple moving average is $52.71 and its 200 day simple moving average is $54.71.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing analysts' consensus estimates of ($1.74) by ($0.56). During the same period in the previous year, the company earned ($1.04) earnings per share. On average, sell-side analysts predict that Vaxcyte, Inc. will post -7.91 EPS for the current 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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