Seven Fleet Capital Management LP Trims Holdings in Vaxcyte, Inc. $PCVX

Key Points

• Seven Fleet Capital Management reduced its Vaxcyte stake by 76.8% in the second quarter, selling 98,650 shares and retaining 29,800 shares valued at approximately $1.78 million.
• Institutional investors own 96.78% of Vaxcyte, while insiders sold 121,873 shares worth $6.67 million over the past three months, including sales by COO Jim Wassil and insider Harpreet Dhaliwal.
• Vaxcyte shares opened at $61.16, near their one-year high of $65.00. Analysts maintain a “Moderate Buy” consensus with an average price target of $86.00, despite the company remaining unprofitable.

Seven Fleet Capital Management LP lowered its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 76.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,800 shares of the company's stock after selling 98,650 shares during the quarter. Seven Fleet Capital Management LP's holdings in Vaxcyte were worth $1,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its stake in Vaxcyte by 156.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the company's stock valued at $27,000 after acquiring an additional 364 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Vaxcyte by 1,463.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 641 shares of the company's stock valued at $30,000 after purchasing an additional 600 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Vaxcyte by 33.0% in the 4th 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 lifted its position in shares of Vaxcyte by 22,500.0% during 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 position in shares of Vaxcyte during the first quarter worth about $58,000. Institutional investors own 96.78% of the company's stock.

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, COO Jim Wassil sold 3,477 shares of Vaxcyte stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $61.07, for a total value of $212,340.39. Following the completion of the transaction, the chief operating officer directly owned 155,041 shares in the company, valued at $9,468,353.87. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Harpreet Dhaliwal sold 17,000 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $55.00, for a total value of $935,000.00. Following the transaction, the insider directly owned 76,756 shares of the company's stock, valued at $4,221,580. This trade represents a 18.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 121,873 shares of company stock worth $6,671,730. Insiders own 3.30% of the company's stock.

Vaxcyte Stock Performance

Shares of NASDAQ:PCVX opened at $61.16 on Friday. The company's fifty day moving average is $58.22 and its two-hundred day moving average is $56.20. Vaxcyte, Inc. has a 1-year low of $30.81 and a 1-year high of $65.00. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of -8.02 and a beta of 1.22.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, beating the consensus estimate of ($2.06) by $0.09. During the same quarter last year, the business earned ($1.22) earnings per share. Sell-side analysts expect that Vaxcyte, Inc. will post -7.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research raised Vaxcyte from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Wall Street Zen raised Vaxcyte from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a research report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.00.

Vaxcyte 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.

Want to see what other hedge funds are holding PCVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vaxcyte, Inc. (NASDAQ:PCVX - Free Report).

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