Corient Private Wealth LP Acquires New Holdings in Vaxcyte, Inc. $PCVX

Key Points

• Corient Private Wealth acquired 36,839 Vaxcyte shares worth approximately $2.14 million in the second quarter. Institutional investors and hedge funds collectively own 96.78% of PCVX.
• Vaxcyte insiders sold 121,873 shares valued at $6.67 million over the past 90 days, including sales by an insider and the COO that were conducted under a 10b5-1 plan or to cover tax obligations.
• Analysts maintain a “Moderate Buy” consensus rating with an $86 target price, while Vaxcyte recently reported quarterly EPS of -$1.97, beating estimates of -$2.06; shares opened at $61.58.

Corient Private Wealth LP bought a new stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,839 shares of the company's stock, valued at approximately $2,141,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Jupiter Topco LLC bought a new stake in Vaxcyte in the second quarter worth approximately $1,044,355,000. BlackRock Inc. bought a new position in shares of Vaxcyte during the 2nd quarter valued at $701,520,000. Janus Henderson Group PLC lifted its stake in shares of Vaxcyte by 23.8% in the 1st quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company's stock valued at $960,231,000 after purchasing an additional 3,188,687 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Vaxcyte by 35.9% in the 4th 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 during the last quarter. Finally, Caligan Partners LP acquired a new stake in shares of Vaxcyte in the 4th quarter valued at $78,660,000. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Vaxcyte news, insider Harpreet S. Dhaliwal sold 17,000 shares of the company's stock in a transaction dated 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 $4,221,580. This represents a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, COO Jim Wassil sold 3,477 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $61.07, for a total value of $212,340.39. Following the completion of the sale, the chief operating officer directly owned 155,041 shares in the company, valued at approximately $9,468,353.87. This represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 121,873 shares of company stock worth $6,671,730 in the last 90 days. Insiders own 3.30% of the company's stock.

Analyst Ratings Changes

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

Vaxcyte Stock Up 1.3%

NASDAQ:PCVX opened at $61.58 on Thursday. Vaxcyte, Inc. has a 12 month low of $30.81 and a 12 month high of $65.00. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of -8.07 and a beta of 1.22. The company's 50 day moving average is $57.98 and its 200-day moving average is $56.12.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.06) by $0.09. During the same quarter in the prior year, the company earned ($1.22) EPS. Research analysts predict that Vaxcyte, Inc. will post -7.6 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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