Fred Alger Management LLC Has $844,000 Stake in Vaxcyte, Inc. $PCVX

Key Points

• Fred Alger Management LLC significantly reduced its stake in Vaxcyte, Inc. by 95.7%, now holding 22,360 shares valued at $844,000 after selling more than 500,000 shares in the first quarter.
• Several institutional investors have increased their positions in Vaxcyte, with Jones Financial Companies raising its stake by an astonishing 113,702.7%, bringing its total share ownership to 166,152 shares worth $6,274,000.
• Vaxcyte's stock recently opened at $32.72 and currently has a market capitalization of $4.25 billion, with analysts setting a consensus target price of $121.75.

Fred Alger Management LLC reduced its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 95.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,360 shares of the company's stock after selling 500,647 shares during the period. Fred Alger Management LLC's holdings in Vaxcyte were worth $844,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position in Vaxcyte by 10.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company's stock worth $112,000 after purchasing an additional 293 shares during the last quarter. Avior Wealth Management LLC raised its position in Vaxcyte by 5.3% during the 1st quarter. Avior Wealth Management LLC now owns 6,799 shares of the company's stock worth $257,000 after purchasing an additional 343 shares during the last quarter. US Bancorp DE raised its position in Vaxcyte by 7.2% during the 1st quarter. US Bancorp DE now owns 5,344 shares of the company's stock worth $202,000 after purchasing an additional 357 shares during the last quarter. Xponance Inc. raised its position in Vaxcyte by 4.7% during the 1st quarter. Xponance Inc. now owns 9,320 shares of the company's stock worth $352,000 after purchasing an additional 415 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Vaxcyte by 1.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,635 shares of the company's stock worth $1,119,000 after purchasing an additional 436 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Vaxcyte in a research report on Friday. They set a "neutral" rating and a $38.00 target price for the company. Cowen reissued a "buy" rating on shares of Vaxcyte in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $106.25.

Vaxcyte Price Performance

Shares of PCVX traded down $0.08 during trading hours on Monday, hitting $32.10. The stock had a trading volume of 259,540 shares, compared to its average volume of 1,747,575. The firm has a 50 day simple moving average of $33.16 and a 200-day simple moving average of $38.76. The firm has a market capitalization of $4.17 billion, a P/E ratio of -7.81 and a beta of 1.04. Vaxcyte, Inc. has a 1-year low of $27.66 and a 1-year high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its 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 quarter in the prior year, the business posted ($1.10) earnings per share. Equities analysts predict that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

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.