Engineers Gate Manager LP Invests $1.91 Million in Vaxcyte, Inc. $PCVX

Key Points

• Engineers Gate Manager LP purchased 32,784 Vaxcyte shares worth approximately $1.91 million in the second quarter. Institutional investors collectively own 96.78% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with five Buy, one Hold, and one Sell rating and an average price target of $98.00.
• Vaxcyte shares opened at $59.21, while the company reported a quarterly loss of $1.97 per share—better than the $2.06 consensus estimate. Insiders have sold 124,588 shares worth roughly $6.84 million over the past three months.

Engineers Gate Manager LP purchased 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. The institutional investor purchased 32,784 shares of the company's stock, valued at approximately $1,906,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jupiter Topco LLC bought a new stake in shares of Vaxcyte during the second quarter worth about $1,044,355,000. BlackRock Inc. bought a new stake in shares of Vaxcyte in the 2nd quarter valued at $701,520,000. Janus Henderson Group PLC raised its stake in Vaxcyte by 23.8% during the first quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company's stock worth $960,231,000 after buying an additional 3,188,687 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Vaxcyte by 35.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company's stock valued at $521,213,000 after buying an additional 2,981,038 shares during the period. Finally, Wellington Management Group LLP boosted its position in Vaxcyte by 24.7% during the second quarter. Wellington Management Group LLP now owns 7,001,565 shares of the company's stock valued at $407,001,000 after acquiring an additional 1,386,968 shares during the last quarter. Institutional investors own 96.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Zacks Research raised Vaxcyte from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Vaxcyte in a research note on Monday, July 6th. Finally, Wall Street Zen raised shares of Vaxcyte from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Vaxcyte has a consensus rating of "Moderate Buy" and a consensus price target of $98.00.

Vaxcyte Price Performance

NASDAQ PCVX opened at $59.21 on Wednesday. The company has a fifty day moving average price of $58.46 and a 200-day moving average price of $56.28. Vaxcyte, Inc. has a 1 year low of $30.81 and a 1 year high of $65.00. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of -7.76 and a beta of 1.22.

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

Insiders Place Their Bets

In other Vaxcyte news, CFO Andrew Guggenhime sold 10,000 shares of the company's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $53.00, for a total value of $530,000.00. Following the completion of the transaction, the chief financial officer owned 104,395 shares in the company, valued at $5,532,935. This represents a 8.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harpreet S. Dhaliwal sold 17,000 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $55.00, for a total value of $935,000.00. Following the sale, the insider directly owned 76,756 shares of the company's stock, valued at approximately $4,221,580. This represents a 18.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 124,588 shares of company stock valued at $6,835,592. Insiders own 3.30% of the company's stock.

Vaxcyte Company Profile

Vaxcyte, Inc is a clinical-stage biotechnology company focused on developing vaccines to prevent serious bacterial infections. The company's lead programs target pneumococcal disease, which can cause pneumonia, meningitis, bloodstream infections and other invasive illnesses. Vaxcyte is developing broad-spectrum pneumococcal conjugate vaccine candidates designed to protect against a wide range of bacterial serotypes.

Vaxcyte's pipeline has included VAX-24, an investigational 24-valent pneumococcal conjugate vaccine, and VAX-31, a next-generation candidate designed to cover 31 serotypes.

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