Parkman Healthcare Partners LLC Reduces Holdings in Vaxcyte, Inc. $PCVX

Key Points

• Parkman Healthcare Partners LLC reduced its stake in Vaxcyte, Inc. by 19.6% in Q1, holding shares worth approximately $3.53 million after selling 22,707 shares.
• In the same period, other institutional investors increased their stakes, with RA Capital Management L.P. growing its holdings by 40.3% and now owning 12.19 million shares valued at $460 million.
• Vaxcyte is currently rated as a "Buy" stock by analysts, with a consensus price target of $130.00, despite reporting a loss of ($1.22) earnings per share last quarter.

Parkman Healthcare Partners LLC cut its holdings in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 19.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,431 shares of the company's stock after selling 22,707 shares during the quarter. Parkman Healthcare Partners LLC owned approximately 0.07% of Vaxcyte worth $3,528,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new stake in Vaxcyte in the first quarter worth about $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Vaxcyte in the first quarter worth about $35,000. Parallel Advisors LLC lifted its stake in Vaxcyte by 203.6% in the first quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock worth $61,000 after acquiring an additional 1,071 shares during the period. IFP Advisors Inc lifted its stake in Vaxcyte by 376.4% in the first quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock worth $62,000 after acquiring an additional 1,306 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Vaxcyte by 81.6% in the first quarter. Advisors Asset Management Inc. now owns 1,929 shares of the company's stock worth $73,000 after acquiring an additional 867 shares during the period. 96.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Cowen reaffirmed a "buy" rating on shares of Vaxcyte in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, Vaxcyte presently has an average rating of "Buy" and an average price target of $130.00.

Vaxcyte Stock Up 1.0%

Shares of NASDAQ PCVX traded up $0.31 during trading hours on Tuesday, hitting $32.72. 1,157,187 shares of the stock were exchanged, compared to its average volume of 1,465,689. The company has a market cap of $4.25 billion, a PE ratio of -7.96 and a beta of 1.04. The firm has a fifty day moving average price of $33.21 and a 200-day moving average price of $40.00. Vaxcyte, Inc. has a 12 month low of $27.66 and a 12 month high of $121.06.

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

Vaxcyte Company 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.