Northern Trust Corp Sells 37,045 Shares of Vaxcyte, Inc. $PCVX

Key Points

• Northern Trust Corp reduced its stake in Vaxcyte, Inc., selling 37,045 shares and owning about 0.87% of the company, worth approximately $42.4 million.
• Several institutional investors, including Parallel Advisors LLC and IFP Advisors Inc, significantly increased their positions in Vaxcyte during the first quarter, reflecting growing interest in the company.
• Vaxcyte reported disappointing earnings of ($1.22) per share, missing analyst expectations, while maintaining a consensus buy rating with an average price target of $136.50.

Northern Trust Corp trimmed its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,122,956 shares of the company's stock after selling 37,045 shares during the period. Northern Trust Corp owned 0.87% of Vaxcyte worth $42,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in Vaxcyte in the 1st quarter valued at $20,988,000. Paradigm Biocapital Advisors LP boosted its position in Vaxcyte by 57.3% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,422,787 shares of the company's stock valued at $116,469,000 after buying an additional 518,255 shares during the last quarter. Lazard Asset Management LLC bought a new position in Vaxcyte in the 4th quarter valued at $39,846,000. Ameriprise Financial Inc. boosted its position in Vaxcyte by 104.7% in the 4th quarter. Ameriprise Financial Inc. now owns 716,773 shares of the company's stock valued at $58,675,000 after buying an additional 366,622 shares during the last quarter. Finally, Fiera Capital Corp bought a new position in Vaxcyte in the 1st quarter valued at $13,563,000. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Trading Up 1.7%

Shares of NASDAQ:PCVX traded up $0.54 during midday trading on Wednesday, hitting $32.10. The company had a trading volume of 1,428,219 shares, compared to its average volume of 1,470,702. Vaxcyte, Inc. has a 12 month low of $27.66 and a 12 month high of $121.06. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of -7.81 and a beta of 1.04. The firm has a fifty day simple moving average of $33.22 and a 200 day simple moving average of $41.66.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.10). During the same period last year, the company posted ($1.10) earnings per share. Equities analysts forecast that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Cowen reiterated a "buy" rating on shares of Vaxcyte in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $130.00.

Vaxcyte Profile

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.