Nan Fung Trinity HK Ltd. Acquires 38,680 Shares of Vaxcyte, Inc. $PCVX

Key Points

• Nan Fung Trinity HK Ltd. increased its Vaxcyte stake by 37.1% in the fourth quarter, buying 38,680 more shares and lifting its total to 142,930 shares valued at about $6.6 million.
• Institutional ownership in Vaxcyte remains very high at 96.78%, while several other hedge funds and asset managers also recently added to or initiated positions in the stock.
• Analyst sentiment is mixed but leans positive: Vaxcyte has a Moderate Buy consensus with an $86 average target, even though recent quarterly earnings missed estimates and two company insiders sold shares.

Nan Fung Trinity HK Ltd. grew its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 37.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 142,930 shares of the company's stock after buying an additional 38,680 shares during the period. Nan Fung Trinity HK Ltd. owned approximately 0.11% of Vaxcyte worth $6,595,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Vaxcyte by 148.9% during the 3rd quarter. Allworth Financial LP now owns 1,222 shares of the company's stock worth $44,000 after buying an additional 731 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Vaxcyte during the 3rd quarter worth approximately $45,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Vaxcyte by 22,500.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company's stock worth $49,000 after buying an additional 1,350 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Vaxcyte during the 3rd quarter worth approximately $72,000. Finally, Danske Bank A S bought a new position in shares of Vaxcyte in the 3rd quarter worth $76,000. 96.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PCVX has been the topic of a number of recent research reports. Wall Street Zen cut Vaxcyte from a "sell" rating to a "strong sell" rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a report on Wednesday, April 8th. BTIG Research increased their target price on Vaxcyte from $85.00 to $89.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Jefferies Financial Group reiterated a "buy" rating on shares of Vaxcyte in a report on Tuesday, March 10th. Finally, Guggenheim reiterated a "buy" rating and issued a $116.00 target price on shares of Vaxcyte in a report on Monday, February 2nd. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

Insiders Place Their Bets

In related news, COO Jim Wassil sold 2,250 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.83, for a total value of $127,867.50. Following the completion of the sale, the chief operating officer directly owned 160,744 shares of the company's stock, valued at approximately $9,135,081.52. This represents a 1.38% decrease in their position. The transaction 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, CAO Elvia Cowan sold 3,000 shares of the stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the completion of the sale, the chief accounting officer directly owned 28,975 shares of the company's stock, valued at $1,738,500. The trade was a 9.38% 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. Insiders sold a total of 17,037 shares of company stock valued at $994,899 over the last three months. 3.10% of the stock is currently owned by insiders.

Vaxcyte Stock Up 3.0%

Shares of PCVX opened at $53.01 on Friday. Vaxcyte, Inc. has a 12-month low of $28.64 and a 12-month high of $65.00. The business's fifty day moving average is $58.41 and its 200 day moving average is $51.83. The stock has a market cap of $7.65 billion, a P/E ratio of -7.70 and a beta of 1.30.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing analysts' consensus estimates of ($1.74) by ($0.56). During the same quarter last year, the firm earned ($1.04) earnings per share. On average, analysts expect that Vaxcyte, Inc. will post -7.46 EPS for the current year.

Vaxcyte Company Profile

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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