Frazier Life Sciences Management L.P. Sells 340,000 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

Frazier Life Sciences Management L.P. decreased its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 38.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 539,405 shares of the company's stock after selling 340,000 shares during the period. Vaxcyte accounts for 1.8% of Frazier Life Sciences Management L.P.'s investment portfolio, making the stock its 13th largest position. Frazier Life Sciences Management L.P. owned about 0.43% of Vaxcyte worth $44,156,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in PCVX. Whipplewood Advisors LLC purchased a new stake in shares of Vaxcyte in the fourth quarter worth about $28,000. Smartleaf Asset Management LLC increased its holdings in Vaxcyte by 188.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 398 shares of the company's stock worth $33,000 after acquiring an additional 260 shares during the period. National Bank of Canada FI purchased a new stake in Vaxcyte in the 4th quarter worth approximately $41,000. Blue Trust Inc. lifted its stake in Vaxcyte by 100.0% in the 4th quarter. Blue Trust Inc. now owns 742 shares of the company's stock worth $61,000 after purchasing an additional 371 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Vaxcyte by 77,500.0% in the 4th quarter. Assetmark Inc. now owns 776 shares of the company's stock valued at $64,000 after purchasing an additional 775 shares during the period. Institutional investors own 96.78% of the company's stock.

Insider Activity at Vaxcyte

In other Vaxcyte news, COO Jim Wassil sold 8,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $73.27, for a total transaction of $586,160.00. Following the completion of the sale, the chief operating officer now directly owns 154,931 shares in the company, valued at $11,351,794.37. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.10% of the stock is owned by insiders.

Vaxcyte Stock Down 4.2%

Shares of Vaxcyte stock traded down $1.41 during trading on Monday, hitting $32.54. 1,763,863 shares of the stock traded hands, compared to its average volume of 1,371,448. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of -7.07 and a beta of 1.27. Vaxcyte, Inc. has a 52 week low of $27.66 and a 52 week high of $121.06. The firm's fifty day moving average is $38.53 and its 200-day moving average is $68.96.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.02). During the same quarter last year, the company posted ($0.85) EPS. On average, analysts forecast that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on PCVX. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price target on shares of Vaxcyte in a report on Tuesday, April 8th. The Goldman Sachs Group lowered their price target on Vaxcyte from $138.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Cantor Fitzgerald began coverage on Vaxcyte in a report on Tuesday, April 22nd. They set an "overweight" rating for the company. Guggenheim restated a "buy" rating and issued a $160.00 price objective on shares of Vaxcyte in a research report on Wednesday, March 12th. Finally, Evercore ISI upgraded shares of Vaxcyte to a "strong-buy" rating in a research report on Monday, March 31st. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $136.50.

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.