Driehaus Capital Management LLC Lowers Stake in Vaxcyte, Inc. $PCVX

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

A number of other hedge funds also recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in Vaxcyte by 5.5% in the 1st quarter. Rhumbline Advisers now owns 181,230 shares of the company's stock worth $6,843,000 after buying an additional 9,416 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Vaxcyte by 5.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,600 shares of the company's stock worth $362,000 after purchasing an additional 524 shares during the period. Parallel Advisors LLC lifted its stake in 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 purchasing an additional 1,071 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Vaxcyte by 75.4% during the first quarter. Envestnet Asset Management Inc. now owns 96,600 shares of the company's stock valued at $3,648,000 after buying an additional 41,517 shares during the period. Finally, Raymond James Financial Inc. increased its holdings in shares of Vaxcyte by 10.7% in the first quarter. Raymond James Financial Inc. now owns 293,134 shares of the company's stock worth $11,069,000 after buying an additional 28,430 shares during the period. 96.78% of the stock is owned by institutional investors.

Vaxcyte Trading Up 2.5%

Shares of PCVX stock traded up $0.77 during trading hours on Tuesday, reaching $31.56. The company's stock had a trading volume of 1,851,094 shares, compared to its average volume of 1,765,907. Vaxcyte, Inc. has a one year low of $27.66 and a one year high of $121.06. The stock has a market capitalization of $4.10 billion, a P/E ratio of -7.68 and a beta of 1.04. The firm's fifty day simple moving average is $33.29 and its 200 day simple moving average is $41.80.

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

Wall Street Analysts Forecast Growth

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

About Vaxcyte

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.