Vaxcyte, Inc. $PCVX Shares Sold by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA reduced its Vaxcyte stake by 60.1% in the third quarter, selling 26,891 shares and retaining 17,845 shares valued at approximately $1.02 million.
• Institutional investors own 96.78% of Vaxcyte, with several major firms—including Janus Henderson and Wellington Management—adding to their positions.
• Analysts maintain a generally positive outlook, with the stock rated “Moderate Buy” and an average price target of $110.50 versus a recent price of $63.62, despite insider sales and the company’s ongoing losses.

Banque Pictet & Cie SA cut its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 60.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,845 shares of the company's stock after selling 26,891 shares during the period. Banque Pictet & Cie SA's holdings in Vaxcyte were worth $1,015,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Jupiter Topco LLC acquired a new stake in shares of Vaxcyte in the 2nd quarter worth about $1,044,355,000. BlackRock Inc. acquired a new position in Vaxcyte during the 2nd quarter valued at about $701,520,000. Janus Henderson Group PLC grew its position in Vaxcyte by 23.8% in the 1st 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 last quarter. Wellington Management Group LLP grew its position in Vaxcyte by 24.7% in the 2nd quarter. Wellington Management Group LLP now owns 7,001,565 shares of the company's stock worth $407,001,000 after purchasing an additional 1,386,968 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Vaxcyte in the 2nd quarter worth about $62,711,000. 96.78% of the stock is currently owned by institutional investors.

Vaxcyte Price Performance

Shares of NASDAQ PCVX opened at $63.62 on Monday. The stock has a market cap of $9.47 billion, a P/E ratio of -8.34 and a beta of 1.23. The firm's 50-day simple moving average is $61.14 and its 200 day simple moving average is $57.10. Vaxcyte, Inc. has a fifty-two week low of $39.87 and a fifty-two week high of $90.75.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.06) by $0.09. During the same quarter in the prior year, the business posted ($1.22) earnings per share. On average, sell-side analysts anticipate that Vaxcyte, Inc. will post -7.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PCVX shares. Guggenheim raised their price target on shares of Vaxcyte from $116.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, October 5th. Bank of America reduced their price objective on Vaxcyte from $133.00 to $130.00 and set a "buy" rating for the company in a research report on Monday, September 28th. Wall Street Zen upgraded Vaxcyte from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. BTIG Research reissued a "buy" rating and issued a $89.00 price objective on shares of Vaxcyte in a report on Monday, October 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Vaxcyte in a research report on Friday, October 2nd. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.50.

Insider Buying and Selling

In other news, CFO Andrew Guggenhime sold 10,000 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $53.89, for a total value of $538,900.00. Following the completion of the sale, the chief financial officer owned 105,176 shares in the company, valued at $5,667,934.64. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Grant Pickering sold 2,000 shares of the firm's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $55.65, for a total value of $111,300.00. Following the transaction, the chief executive officer directly owned 133,215 shares of the company's stock, valued at $7,413,414.75. This represents a 1.48% 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. In the last ninety days, insiders have sold 92,890 shares of company stock worth $6,320,569. 3.30% of the stock is owned by corporate insiders.

About Vaxcyte

Vaxcyte, Inc NASDAQ: PCVX is a clinical-stage biotechnology company focused on developing vaccines to help prevent serious bacterial infections. The company uses its cell-free protein synthesis and advanced conjugation technologies to design vaccines intended to provide broad and durable protection while addressing limitations of existing vaccine products.

Vaxcyte's lead programs are pneumococcal conjugate vaccine candidates, including VAX-24 and VAX-31, which are designed to target a broad range of pneumococcal serotypes.

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