Rafferty Asset Management LLC Has $4.98 Million Position in Vaxcyte, Inc. $PCVX

Key Points

• Rafferty Asset Management LLC reduced its holdings in Vaxcyte, Inc. by 10.6%, now owning 131,812 shares worth approximately $4.98 million.
• Vaxcyte reported a loss of ($1.22) earnings per share for the recent quarter, missing expectations and indicating a need for improvement in financial performance.
• The consensus rating for Vaxcyte among analysts is "Buy", with a target price of $136.50, suggesting potential for future gains despite recent losses.

Rafferty Asset Management LLC cut its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 10.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,812 shares of the company's stock after selling 15,624 shares during the period. Rafferty Asset Management LLC owned 0.10% of Vaxcyte worth $4,977,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCVX. AlphaQuest LLC acquired a new position in shares of Vaxcyte during the first quarter worth approximately $33,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Vaxcyte in the first quarter valued at approximately $35,000. Parallel Advisors LLC lifted its holdings in Vaxcyte by 203.6% in the first quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock valued at $61,000 after buying an additional 1,071 shares during the period. IFP Advisors Inc lifted its holdings in Vaxcyte by 376.4% in the first quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock valued at $62,000 after buying an additional 1,306 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Vaxcyte by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company's stock valued at $112,000 after buying an additional 293 shares during the period. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Vaxcyte Trading Down 0.3%

Shares of PCVX stock traded down $0.10 during trading hours on Wednesday, hitting $31.47. 295,624 shares of the company were exchanged, compared to its average volume of 1,756,342. The company has a market capitalization of $4.08 billion, a PE ratio of -7.65 and a beta of 1.04. Vaxcyte, Inc. has a 52 week low of $27.66 and a 52 week high of $121.06. The business has a 50 day moving average of $33.24 and a two-hundred day moving average of $41.73.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its 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 quarter last year, the company earned ($1.10) EPS. On average, research analysts forecast that Vaxcyte, Inc. will post -4.21 EPS for the current 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.