Price T Rowe Associates Inc. MD Lowers Stock Holdings in Vaxcyte, Inc. $PCVX

Key Points

• Price T Rowe Associates Inc. MD reduced its holdings in Vaxcyte, Inc. by 10.7% during the first quarter, owning approximately 3.5 million shares worth $133.7 million after selling 424,949 shares.
• Wellington Management Group LLP increased its stake in Vaxcyte by 44.4%, now holding over 6.4 million shares valued at $242.3 million, indicating significant institutional interest in the company.
• Despite recent struggles, Vaxcyte received a "buy" rating from Cowen, with analysts forecasting a consensus price target of $136.50 for the stock, which opened at $32.29.

Price T Rowe Associates Inc. MD trimmed its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,542,007 shares of the company's stock after selling 424,949 shares during the quarter. Price T Rowe Associates Inc. MD owned 2.75% of Vaxcyte worth $133,747,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Vaxcyte in the 1st quarter worth $35,000. Hsbc Holdings PLC boosted its holdings in shares of Vaxcyte by 3.1% during the first quarter. Hsbc Holdings PLC now owns 18,461 shares of the company's stock worth $675,000 after purchasing an additional 552 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Vaxcyte by 44.4% during the first quarter. Wellington Management Group LLP now owns 6,416,930 shares of the company's stock worth $242,303,000 after purchasing an additional 1,972,918 shares during the period. Raymond James Financial Inc. grew its stake in shares of Vaxcyte by 10.7% in the first quarter. Raymond James Financial Inc. now owns 293,134 shares of the company's stock worth $11,069,000 after purchasing an additional 28,430 shares during the last quarter. Finally, Aberdeen Group plc grew its stake in shares of Vaxcyte by 17.8% in the first quarter. Aberdeen Group plc now owns 264,737 shares of the company's stock worth $9,996,000 after purchasing an additional 39,913 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company's stock.

Vaxcyte Stock Up 0.1%

Shares of NASDAQ:PCVX traded up $0.02 during trading on Friday, hitting $30.79. The stock had a trading volume of 944,896 shares, compared to its average volume of 1,519,997. The company has a market capitalization of $4.00 billion, a PE ratio of -7.49 and a beta of 1.21. The firm's fifty day moving average is $33.34 and its 200 day moving average is $42.46. 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 the consensus estimate of ($1.12) by ($0.10). During the same period in the prior year, the firm earned ($1.10) earnings per share. Equities research analysts expect that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Cowen reaffirmed a "buy" rating on shares of Vaxcyte in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $136.50.

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.