California State Teachers Retirement System Has $7.91 Million Holdings in Vaxcyte, Inc. $PCVX

Key Points

• California State Teachers Retirement System increased its Vaxcyte stake by 22.8% in the first quarter, bringing its holdings to 136,100 shares valued at approximately $7.91 million. Institutional investors collectively own 96.78% of PCVX.
• Vaxcyte insiders sold 91,396 shares worth roughly $4.98 million over the past 90 days, including sales by the CFO and CEO under pre-arranged Rule 10b5-1 plans.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an $86 price target. The company reported a first-quarter loss of $2.30 per share, missing estimates of $1.74, while its lead vaccine candidate is the 24-valent pneumococcal vaccine VAX-24.

California State Teachers Retirement System boosted its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 22.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,100 shares of the company's stock after purchasing an additional 25,238 shares during the period. California State Teachers Retirement System owned about 0.09% of Vaxcyte worth $7,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCVX. Janus Henderson Group PLC lifted its position in shares of Vaxcyte by 2.2% in the fourth quarter. Janus Henderson Group PLC now owns 13,387,188 shares of the company's stock worth $617,731,000 after purchasing an additional 282,985 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Vaxcyte by 35.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company's stock valued at $521,213,000 after purchasing an additional 2,981,038 shares in the last quarter. Wellington Management Group LLP increased its stake in Vaxcyte by 18.5% in the 4th quarter. Wellington Management Group LLP now owns 5,966,310 shares of the company's stock valued at $275,286,000 after buying an additional 933,539 shares during the last quarter. State Street Corp increased its stake in Vaxcyte by 4.1% in the 4th quarter. State Street Corp now owns 4,980,005 shares of the company's stock valued at $229,777,000 after buying an additional 194,116 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP lifted its position in Vaxcyte by 7.5% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,068,020 shares of the company's stock worth $187,698,000 after buying an additional 283,265 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company's stock.

Insider Buying and Selling

In other Vaxcyte news, CFO Andrew Guggenhime sold 10,000 shares of the business's stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Grant Pickering sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $55.65, for a total transaction of $111,300.00. Following the completion of the sale, the chief executive officer owned 133,215 shares in the company, valued at $7,413,414.75. This represents a 1.48% 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. Insiders sold a total of 91,396 shares of company stock worth $4,975,725 in the last ninety days. 3.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PCVX has been the subject of a number of analyst reports. Wall Street Zen downgraded Vaxcyte from a "sell" rating to a "strong sell" rating in a research note on Tuesday, April 28th. Zacks Research downgraded Vaxcyte from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 14th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Vaxcyte in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Vaxcyte presently has a consensus rating of "Hold" and a consensus price target of $86.00.

Vaxcyte Stock Performance

NASDAQ:PCVX opened at $54.69 on Wednesday. The company has a market cap of $7.90 billion, a price-to-earnings ratio of -7.95 and a beta of 1.23. Vaxcyte, Inc. has a fifty-two week low of $29.08 and a fifty-two week high of $65.00. The stock has a fifty day moving average price of $53.47 and a 200-day moving average price of $55.05.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($2.30) earnings per share for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same period in the previous year, the company posted ($1.04) earnings per share. Research analysts predict that Vaxcyte, Inc. will post -7.91 EPS for the current fiscal year.

About Vaxcyte

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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