Man Group plc Acquires New Stake in Vaxcyte, Inc. $PCVX

Key Points

• Man Group plc acquired 81,632 Vaxcyte shares worth approximately $4.75 million during the second quarter, while institutional investors collectively owned 96.78% of the company.
• Vaxcyte reported a quarterly loss of $1.97 per share, exceeding analysts’ expected loss of $2.06. The stock opened at $59.83, with a market capitalization of approximately $8.9 billion.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $86, although insiders sold about $6.46 million in shares over the past 90 days.

Man Group plc bought a new position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 81,632 shares of the company's stock, valued at approximately $4,745,000. Man Group plc owned approximately 0.05% of Vaxcyte as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of PCVX. Jupiter Topco LLC bought a new position in shares of Vaxcyte in the 2nd quarter worth approximately $1,044,355,000. Elmind Capital LP purchased a new position in Vaxcyte during the second quarter valued at $26,294,524. ADAR1 Capital Management LLC bought a new stake in Vaxcyte in the 2nd quarter worth approximately $8,489,000. Hsbc Holdings PLC purchased a new position in shares of Vaxcyte in the 2nd quarter worth $241,000. Finally, Canada Pension Plan Investment Board bought a new stake in Vaxcyte during the second quarter worth approximately $459,000. Hedge funds and other institutional investors own 96.78% of the company's stock.

Vaxcyte Stock Performance

NASDAQ PCVX opened at $59.83 on Monday. The stock's fifty day moving average is $57.48 and its two-hundred day moving average is $55.99. The firm has a market capitalization of $8.90 billion, a P/E ratio of -7.84 and a beta of 1.23. Vaxcyte, Inc. has a fifty-two week low of $30.32 and a fifty-two week high of $65.00.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.06) by $0.09. During the same period last year, the firm posted ($1.22) EPS. As a group, sell-side analysts forecast that Vaxcyte, Inc. will post -7.6 EPS for the current year.

Insider Buying and Selling

In other news, COO Jim Wassil sold 2,250 shares of Vaxcyte stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $56.33, for a total value of $126,742.50. Following the completion of the transaction, the chief operating officer owned 156,760 shares in the company, valued at approximately $8,830,290.80. This trade represents a 1.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Guggenhime sold 10,000 shares of the business's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $53.00, for a total transaction of $530,000.00. Following the transaction, the chief financial officer owned 104,395 shares of the company's stock, valued at approximately $5,532,935. The trade was a 8.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 118,396 shares of company stock valued at $6,459,390. 3.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PCVX has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Vaxcyte in a research note on Monday, July 6th. Wall Street Zen upgraded shares of Vaxcyte from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Zacks Research raised shares of Vaxcyte from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $86.00.

About Vaxcyte

Vaxcyte, Inc NASDAQ: PCVX is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company's platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte's lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.

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