Readystate Asset Management LP Purchases 120,000 Shares of Vaxcyte, Inc. $PCVX

Key Points

• Readystate Asset Management increased its Vaxcyte position by 332.5%, purchasing 120,000 additional shares to own 156,090 shares valued at approximately $9.1 million. Institutional investors collectively own 96.78% of PCVX.
• Vaxcyte insiders sold 121,873 shares worth $6.67 million in the latest quarter, including sales by the CEO and COO; insiders retain 3.30% ownership.
• PCVX traded near $61.16, with a $9.1 billion market capitalization, while analysts maintain a “Moderate Buy” consensus and an average price target of $86.00. The company recently reported a quarterly loss of $1.97 per share, better than expectations.

Readystate Asset Management LP increased its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 332.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,090 shares of the company's stock after buying an additional 120,000 shares during the period. Readystate Asset Management LP owned 0.10% of Vaxcyte worth $9,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCVX. Smartleaf Asset Management LLC raised its holdings in shares of Vaxcyte by 156.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the company's stock worth $27,000 after acquiring an additional 364 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Vaxcyte by 1,463.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 641 shares of the company's stock valued at $30,000 after acquiring an additional 600 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Vaxcyte by 33.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company's stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in Vaxcyte by 22,500.0% in the third quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company's stock worth $49,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Capital Advisors Ltd. LLC bought a new stake in Vaxcyte in the first quarter worth $58,000. 96.78% of the stock is owned by institutional investors.

Insider Activity

In other Vaxcyte news, COO Jim Wassil sold 3,477 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $61.07, for a total value of $212,340.39. Following the completion of the sale, the chief operating officer owned 155,041 shares of the company's stock, valued at $9,468,353.87. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Grant Pickering sold 22,461 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $52.50, for a total value of $1,179,202.50. Following the transaction, the chief executive officer owned 474,703 shares of the company's stock, valued at $24,921,907.50. This trade represents a 4.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 121,873 shares of company stock valued at $6,671,730 in the last quarter. 3.30% of the stock is currently owned by company insiders.

Vaxcyte Stock Performance

NASDAQ:PCVX opened at $61.16 on Monday. The firm has a market capitalization of $9.10 billion, a PE ratio of -8.02 and a beta of 1.22. The stock's fifty day moving average is $58.22 and its 200 day moving average is $56.22. Vaxcyte, Inc. has a fifty-two week low of $30.81 and a fifty-two week high of $65.00.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, topping the consensus estimate of ($2.06) by $0.09. During the same quarter in the previous year, the business earned ($1.22) EPS. Equities analysts forecast that Vaxcyte, Inc. will post -7.6 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on PCVX shares. Zacks Research upgraded shares of Vaxcyte from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Vaxcyte in a research report on Monday, July 6th. Finally, Wall Street Zen raised shares of Vaxcyte from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $86.00.

Vaxcyte Company Profile

Vaxcyte, Inc NASDAQ: PCVX is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company's platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte's lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.

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