Charles Schwab Investment Management Inc. Has $50.35 Million Stake in Vaxcyte, Inc. $PCVX

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in Vaxcyte, Inc. by 0.6% to approximately 1.03%, following the sale of 8,391 shares.
• Vanguard Group Inc. increased its stake in Vaxcyte by 0.7%, while other investors like J. Safra Sarasin Holding AG and PNC Financial Services have also modified their positions in the company.
• Vaxcyte reported a quarterly EPS of ($1.22), missing estimates, and analysts maintain an average rating of "Buy" with a price target of $136.50.

Charles Schwab Investment Management Inc. trimmed its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,333,382 shares of the company's stock after selling 8,391 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.03% of Vaxcyte worth $50,349,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of Vaxcyte by 53.7% in the fourth quarter. Wells Fargo & Company MN now owns 72,275 shares of the company's stock worth $5,916,000 after acquiring an additional 25,257 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Vaxcyte by 5.5% in the first quarter. Rhumbline Advisers now owns 181,230 shares of the company's stock worth $6,843,000 after acquiring an additional 9,416 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Vaxcyte by 5.8% in the first quarter. PNC Financial Services Group Inc. now owns 9,600 shares of the company's stock worth $362,000 after acquiring an additional 524 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Vaxcyte by 203.6% in the first quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock worth $61,000 after acquiring an additional 1,071 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Vaxcyte by 12.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 55,083 shares of the company's stock valued at $4,509,000 after buying an additional 6,121 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Vaxcyte Stock Down 0.9%

Vaxcyte stock traded down $0.2930 during mid-day trading on Thursday, hitting $30.9670. 33,395 shares of the stock were exchanged, compared to its average volume of 1,764,795. Vaxcyte, Inc. has a 12 month low of $27.66 and a 12 month high of $121.06. The firm's fifty day simple moving average is $33.74 and its two-hundred day simple moving average is $45.46. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of -7.53 and a beta of 1.21.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.10). During the same period in the previous year, the company posted ($1.10) EPS. As a group, analysts forecast that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Cowen reiterated a "buy" rating on shares of Vaxcyte in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, Vaxcyte has an average rating of "Buy" and a consensus price target of $136.50.

Vaxcyte Profile

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.