Headlands Technologies LLC Reduces Stake in Vaxcyte, Inc. (NASDAQ:PCVX)

Key Points

• Headlands Technologies LLC reduced its holdings in Vaxcyte, Inc. by 39.0%, owning 24,052 shares worth $908,000 after selling 15,365 shares during the first quarter.
• Vaxcyte's shares have seen a significant decrease of 9.1% recently, trading at $30.01, while showing a twelve-month range between $27.66 and $121.06.
• Despite the recent decline, Wall Street analysts maintain a positive outlook, with an average buy rating and a price target of $136.50 for Vaxcyte stock.

Headlands Technologies LLC trimmed its holdings in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 39.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,052 shares of the company's stock after selling 15,365 shares during the quarter. Headlands Technologies LLC's holdings in Vaxcyte were worth $908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Vaxcyte by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 12,043,805 shares of the company's stock worth $454,774,000 after purchasing an additional 82,118 shares in the last quarter. J. Safra Sarasin Holding AG purchased a new position in shares of Vaxcyte during the 1st quarter valued at about $470,000. PNC Financial Services Group Inc. raised its stake in shares of Vaxcyte by 5.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,600 shares of the company's stock valued at $362,000 after buying an additional 524 shares during the last quarter. US Bancorp DE raised its stake in shares of Vaxcyte by 7.2% during the 1st quarter. US Bancorp DE now owns 5,344 shares of the company's stock valued at $202,000 after buying an additional 357 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Vaxcyte by 355.9% during the 1st quarter. XTX Topco Ltd now owns 13,796 shares of the company's stock valued at $521,000 after buying an additional 10,770 shares during the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Vaxcyte Price Performance

Shares of PCVX traded down $0.11 during midday trading on Friday, reaching $29.90. The stock had a trading volume of 1,956,003 shares, compared to its average volume of 1,189,025. The company has a market cap of $3.88 billion, a price-to-earnings ratio of -7.27 and a beta of 1.21. The company's fifty day simple moving average is $34.43 and its two-hundred day simple moving average is $48.42. Vaxcyte, Inc. has a 1-year low of $27.66 and a 1-year high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.22) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same quarter last year, the firm posted ($1.10) earnings per share. On average, sell-side analysts forecast that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Wall Street Analyst Weigh In

PCVX has been the subject of a number of recent research reports. Cowen reiterated a "buy" rating on shares of Vaxcyte in a research note on Thursday. Cantor Fitzgerald initiated coverage on Vaxcyte in a research note on Tuesday, April 22nd. They set an "overweight" rating for the company. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $136.50.

Vaxcyte 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.