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 lowered its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Vaxcyte by 0.7% in the first quarter. Vanguard Group Inc. now owns 12,043,805 shares of the company's stock valued at $454,774,000 after purchasing an additional 82,118 shares in the last quarter. Paradigm Biocapital Advisors LP increased its holdings in shares of Vaxcyte by 57.3% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,422,787 shares of the company's stock valued at $116,469,000 after purchasing an additional 518,255 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Vaxcyte by 7.7% in the first quarter. Invesco Ltd. now owns 1,255,827 shares of the company's stock valued at $47,420,000 after purchasing an additional 89,773 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Vaxcyte by 5.6% in the fourth quarter. Deutsche Bank AG now owns 1,212,706 shares of the company's stock valued at $99,272,000 after purchasing an additional 64,522 shares in the last quarter. Finally, Woodline Partners LP increased its holdings in shares of Vaxcyte by 1.5% in the fourth quarter. Woodline Partners LP now owns 1,120,922 shares of the company's stock valued at $91,759,000 after purchasing an additional 16,977 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company's stock.

Wall Street Analyst Weigh In

Separately, Cowen reissued a "buy" rating on shares of Vaxcyte in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, Vaxcyte has an average rating of "Buy" and a consensus target price of $136.50.

Vaxcyte Price Performance

PCVX stock traded up $0.02 during midday trading on Friday, reaching $30.79. The company's stock had a trading volume of 944,896 shares, compared to its average volume of 1,511,927. Vaxcyte, Inc. has a 52 week low of $27.66 and a 52 week high of $121.06. The business's 50-day simple moving average is $33.34 and its 200-day simple moving average is $42.46.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same quarter in the previous year, the company earned ($1.10) EPS. As a group, analysts forecast that Vaxcyte, Inc. will post -4.21 EPS 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.