Spruce Street Capital LP Makes New Investment in Vaxcyte, Inc. $PCVX

Spruce Street Capital LP acquired a new stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 306,047 shares of the company's stock, valued at approximately $17,790,512. Vaxcyte makes up 0.0% of Spruce Street Capital LP's investment portfolio, making the stock its 9th largest position. Spruce Street Capital LP owned about 0.21% of Vaxcyte as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in shares of Vaxcyte by 23.8% during the first quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company's stock worth $960,231,000 after purchasing an additional 3,188,687 shares during the period. BlackRock Inc. acquired a new position in shares of Vaxcyte in the second quarter valued at $701,520,000. T. Rowe Price Investment Management Inc. increased its stake in Vaxcyte by 35.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company's stock valued at $521,213,000 after acquiring an additional 2,981,038 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Vaxcyte by 18.5% in the fourth quarter. Wellington Management Group LLP now owns 5,966,310 shares of the company's stock valued at $275,286,000 after acquiring an additional 933,539 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Vaxcyte by 4.1% in the 4th quarter. State Street Corp now owns 4,980,005 shares of the company's stock worth $229,777,000 after acquiring an additional 194,116 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, insider Harpreet S. Dhaliwal sold 17,000 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $55.00, for a total transaction of $935,000.00. Following the transaction, the insider directly owned 76,756 shares of the company's stock, valued at approximately $4,221,580. This represents a 18.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 2,250 shares of Vaxcyte stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $53.86, for a total value of $121,185.00. Following the transaction, the chief operating officer owned 157,541 shares in the company, valued at approximately $8,485,158.26. The trade was a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 120,646 shares of company stock valued at $6,570,810 over the last quarter. 3.30% of the stock is currently owned by insiders.

Vaxcyte Price Performance

PCVX traded down $1.45 during trading on Friday, reaching $59.70. The company had a trading volume of 350,971 shares, compared to its average volume of 1,375,651. The business's fifty day moving average price is $57.31 and its 200 day moving average price is $55.96. The company has a market cap of $8.88 billion, a P/E ratio of -7.82 and a beta of 1.23. Vaxcyte, Inc. has a 12 month low of $30.32 and a 12 month high of $65.00.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, beating analysts' consensus estimates of ($2.06) by $0.09. During the same quarter in the prior year, the firm posted ($1.22) EPS. As a group, sell-side analysts predict that Vaxcyte, Inc. will post -7.6 EPS for the current fiscal year.

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.