Brown Advisory Inc. Sells 110,060 Shares of Vaxcyte, Inc. $PCVX

Key Points

• Brown Advisory Inc. cut its Vaxcyte stake by 16.3% in the fourth quarter, selling 110,060 shares and leaving it with 566,925 shares worth about $26.2 million.
• Institutional ownership remains very high at 96.78%, while several other funds recently increased their positions in the biotech company.
• Vaxcyte shares rose 4.4% to $49.56, but the company recently reported a larger-than-expected quarterly loss of ($2.30) per share, missing analyst estimates.

Brown Advisory Inc. reduced its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 16.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 566,925 shares of the company's stock after selling 110,060 shares during the quarter. Brown Advisory Inc. owned about 0.43% of Vaxcyte worth $26,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Vaxcyte by 30.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,565,036 shares of the company's stock valued at $56,373,000 after acquiring an additional 366,266 shares during the last quarter. Pivotal bioVenture Partners Investment Advisor LLC boosted its position in shares of Vaxcyte by 5.2% during the 3rd quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 1,372,425 shares of the company's stock valued at $49,435,000 after acquiring an additional 67,300 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Vaxcyte by 21.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,732,715 shares of the company's stock valued at $134,452,000 after acquiring an additional 663,817 shares during the last quarter. HighVista Strategies LLC lifted its position in Vaxcyte by 159.4% in the third quarter. HighVista Strategies LLC now owns 86,802 shares of the company's stock worth $3,127,000 after buying an additional 53,345 shares during the last quarter. Finally, Bridgefront Capital LLC lifted its position in Vaxcyte by 127.2% in the third quarter. Bridgefront Capital LLC now owns 24,325 shares of the company's stock worth $876,000 after buying an additional 13,617 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, COO Jim Wassil sold 2,250 shares of Vaxcyte stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $49.52, for a total value of $111,420.00. Following the transaction, the chief operating officer owned 158,494 shares in the company, valued at $7,848,622.88. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of Vaxcyte stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the completion of the transaction, the chief accounting officer owned 28,975 shares in the company, valued at $1,738,500. This trade represents a 9.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,500 shares of company stock worth $419,288. Insiders own 3.30% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Vaxcyte in a research report on Wednesday, April 8th. Jefferies Financial Group restated a "buy" rating on shares of Vaxcyte in a research report on Tuesday, March 10th. BTIG Research raised their price target on Vaxcyte from $85.00 to $89.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen downgraded Vaxcyte from a "sell" rating to a "strong sell" rating in a research report on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Vaxcyte has a consensus rating of "Moderate Buy" and an average target price of $86.00.

Vaxcyte Trading Up 4.4%

Shares of Vaxcyte stock opened at $49.56 on Tuesday. The firm has a market cap of $7.16 billion, a P/E ratio of -7.20 and a beta of 1.24. Vaxcyte, Inc. has a 12 month low of $29.08 and a 12 month high of $65.00. The stock's fifty day moving average price is $54.11 and its 200-day moving average price is $52.68.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same quarter in the previous year, the firm posted ($1.04) earnings per share. Analysts forecast that Vaxcyte, Inc. will post -7.56 earnings per share 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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