Millennium Management LLC Sells 21,857 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

Millennium Management LLC lessened its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,578 shares of the company's stock after selling 21,857 shares during the quarter. Millennium Management LLC owned approximately 0.22% of Vaxcyte worth $22,641,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in shares of Vaxcyte in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of Vaxcyte by 188.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 398 shares of the company's stock valued at $33,000 after purchasing an additional 260 shares in the last quarter. National Bank of Canada FI bought a new stake in Vaxcyte during the fourth quarter worth $41,000. Blue Trust Inc. lifted its holdings in Vaxcyte by 100.0% during the fourth quarter. Blue Trust Inc. now owns 742 shares of the company's stock worth $61,000 after acquiring an additional 371 shares during the period. Finally, Assetmark Inc. lifted its holdings in Vaxcyte by 77,500.0% during the fourth quarter. Assetmark Inc. now owns 776 shares of the company's stock worth $64,000 after acquiring an additional 775 shares during the period. Institutional investors own 96.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PCVX shares. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price target on shares of Vaxcyte in a report on Tuesday, April 8th. Bank of America dropped their price target on Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Cantor Fitzgerald started coverage on Vaxcyte in a report on Tuesday, April 22nd. They set an "overweight" rating on the stock. Evercore ISI upgraded Vaxcyte to a "strong-buy" rating in a report on Monday, March 31st. Finally, The Goldman Sachs Group dropped 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. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $136.50.

Insider Activity

In related news, COO Jim Wassil sold 8,000 shares of Vaxcyte stock in a transaction on Monday, March 3rd. The stock was 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 owns 154,931 shares of the company's stock, valued at approximately $11,351,794.37. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is owned by company insiders.

Vaxcyte Price Performance

NASDAQ:PCVX opened at $36.57 on Wednesday. The business has a fifty day simple moving average of $41.01 and a two-hundred day simple moving average of $70.70. Vaxcyte, Inc. has a 1 year low of $27.66 and a 1 year high of $121.06. The company has a market capitalization of $4.72 billion, a P/E ratio of -7.95 and a beta of 1.27.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.02). During the same quarter in the prior year, the firm posted ($0.85) earnings per share. As a group, analysts anticipate that Vaxcyte, Inc. will post -4.21 earnings per share for the current 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.

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