NEXTBio Capital Management LP Makes New $4.41 Million Investment in Vaxcyte, Inc. $PCVX

Key Points

• NEXTBio Capital Management LP disclosed a new position in Vaxcyte, buying 95,485 shares worth about $4.41 million in the fourth quarter. The stake represents about 2.6% of NEXTBio’s portfolio and 0.07% of Vaxcyte.
• Wall Street remains mixed on PCVX: BTIG raised its price target to $89 and Jefferies reiterated a buy, while Wall Street Zen and Weiss Ratings issued bearish calls. Overall, analysts still rate the stock a Moderate Buy with an average price target of $86.
• Vaxcyte reported a wider-than-expected quarterly loss of ($2.30) EPS, missing estimates of ($1.74). Insiders have also sold shares recently, including the CAO and COO, while institutions continue to hold the vast majority of the stock.

NEXTBio Capital Management LP purchased a new position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,485 shares of the company's stock, valued at approximately $4,406,000. Vaxcyte makes up approximately 2.6% of NEXTBio Capital Management LP's portfolio, making the stock its 16th largest position. NEXTBio Capital Management LP owned 0.07% of Vaxcyte as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Vaxcyte by 33.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company's stock worth $34,000 after acquiring an additional 184 shares in the last quarter. CWM LLC boosted its holdings in Vaxcyte by 9.0% in the fourth quarter. CWM LLC now owns 2,840 shares of the company's stock worth $131,000 after acquiring an additional 234 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Vaxcyte by 0.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 31,274 shares of the company's stock worth $1,443,000 after acquiring an additional 252 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Vaxcyte by 156.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the company's stock worth $27,000 after acquiring an additional 364 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Vaxcyte by 3.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 10,083 shares of the company's stock worth $465,000 after acquiring an additional 369 shares in the last quarter. Institutional investors own 96.78% of the company's stock.

Wall Street Analyst Weigh In

PCVX has been the topic of several recent research reports. BTIG Research increased their price target on Vaxcyte from $85.00 to $89.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Wall Street Zen lowered Vaxcyte from a "sell" rating to a "strong sell" rating in a report on Tuesday, April 28th. Jefferies Financial Group reiterated a "buy" rating on shares of Vaxcyte in a report on Tuesday, March 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a report on Wednesday, April 8th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $86.00.

Vaxcyte Price Performance

PCVX opened at $47.46 on Friday. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of -6.90 and a beta of 1.24. The firm's fifty day moving average price is $54.28 and its two-hundred day moving average price is $52.66. Vaxcyte, Inc. has a 1 year low of $29.08 and a 1 year high of $65.00.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.74) by ($0.56). During the same period in the previous year, the firm earned ($1.04) EPS. As a group, equities analysts anticipate that Vaxcyte, Inc. will post -7.56 EPS for the current year.

Insiders Place Their Bets

In other Vaxcyte news, CAO Elvia Cowan sold 3,000 shares of the company's stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $60.00, for a total value of $180,000.00. Following the completion of the transaction, the chief accounting officer owned 28,975 shares in the company, valued at $1,738,500. This represents a 9.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 2,250 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $49.52, for a total value of $111,420.00. Following the completion of the transaction, the chief operating officer owned 158,494 shares of the company's stock, valued at $7,848,622.88. This trade represents a 1.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,392 shares of company stock worth $524,426 over the last ninety days. Insiders own 3.30% of the company's stock.

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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