Vaxcyte, Inc. $PCVX Shares Sold by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC has reduced its stake in Vaxcyte, Inc. by 9.1%, owning approximately $40.06 million worth of shares after selling 105,970 in the first quarter.
• Vaxcyte reported a loss per share of ($1.22) for the last quarter, missing analysts' estimates, and analysts anticipate the company will post a -4.21 EPS for the current fiscal year.
• Despite recent losses, Vaxcyte holds a consensus rating of "Buy" from analysts, with an average price target of $136.50.

Driehaus Capital Management LLC decreased its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,060,863 shares of the company's stock after selling 105,970 shares during the period. Driehaus Capital Management LLC owned 0.82% of Vaxcyte worth $40,058,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Vaxcyte by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 12,043,805 shares of the company's stock worth $454,774,000 after acquiring an additional 82,118 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Vaxcyte by 44.4% during the 1st quarter. Wellington Management Group LLP now owns 6,416,930 shares of the company's stock worth $242,303,000 after buying an additional 1,972,918 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its holdings in Vaxcyte by 57.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,422,787 shares of the company's stock worth $116,469,000 after buying an additional 518,255 shares in the last quarter. Invesco Ltd. lifted its holdings in Vaxcyte by 7.7% during the 1st quarter. Invesco Ltd. now owns 1,255,827 shares of the company's stock worth $47,420,000 after buying an additional 89,773 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Vaxcyte by 5.6% during the 4th quarter. Deutsche Bank AG now owns 1,212,706 shares of the company's stock worth $99,272,000 after buying an additional 64,522 shares in the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Vaxcyte Price Performance

Shares of PCVX traded down $0.11 during midday trading on Wednesday, reaching $31.45. The stock had a trading volume of 601,428 shares, compared to its average volume of 1,758,590. Vaxcyte, Inc. has a 1-year low of $27.66 and a 1-year high of $121.06. The company's fifty day simple moving average is $33.24 and its two-hundred day simple moving average is $41.73. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -7.61 and a beta of 1.04.

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

Wall Street Analyst Weigh In

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 seven have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $130.00.

Vaxcyte Company 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.