Deutsche Bank AG Lowers Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Key Points

• Deutsche Bank AG decreased its stake in Vaxcyte, Inc. by 1.2%, now holding approximately 1,197,688 shares worth $45.2 million.
• Vaxcyte has received strong interest from other institutional investors, with some increasing their stakes significantly, such as Parallel Advisors LLC, which grew its position by 203.6%.
• Currently, Vaxcyte's stock carries a consensus rating of “Buy” from analysts with a target price of $136.50, despite reporting a loss of $1.22 EPS in its most recent earnings.

Deutsche Bank AG reduced its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,197,688 shares of the company's stock after selling 15,018 shares during the quarter. Deutsche Bank AG owned approximately 0.93% of Vaxcyte worth $45,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in Vaxcyte by 53.7% during the 4th quarter. Wells Fargo & Company MN now owns 72,275 shares of the company's stock valued at $5,916,000 after acquiring an additional 25,257 shares in the last quarter. Rhumbline Advisers increased its holdings in Vaxcyte by 5.5% during the 1st quarter. Rhumbline Advisers now owns 181,230 shares of the company's stock valued at $6,843,000 after acquiring an additional 9,416 shares in the last quarter. Parallel Advisors LLC increased its holdings in Vaxcyte by 203.6% during the 1st quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock valued at $61,000 after acquiring an additional 1,071 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Vaxcyte by 12.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 55,083 shares of the company's stock valued at $4,509,000 after acquiring an additional 6,121 shares in the last quarter. Finally, Barclays PLC increased its holdings in Vaxcyte by 19.1% during the 4th quarter. Barclays PLC now owns 254,885 shares of the company's stock valued at $20,865,000 after acquiring an additional 40,932 shares in the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Vaxcyte in a report on Tuesday, April 22nd. They set an "overweight" rating for the company. Cowen reissued a "buy" rating on shares of Vaxcyte in a research note on Thursday, August 7th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $136.50.

Vaxcyte Price Performance

PCVX stock traded up $1.55 during midday trading on Wednesday, hitting $31.55. The stock had a trading volume of 2,641,992 shares, compared to its average volume of 1,242,635. Vaxcyte, Inc. has a 12-month low of $27.66 and a 12-month high of $121.06. The company's 50-day moving average price is $34.18 and its 200 day moving average price is $47.48. The firm has a market cap of $4.10 billion, a PE ratio of -7.68 and a beta of 1.21.

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

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.