Vaxcyte, Inc. $PCVX Shares Sold by Eversept Partners LP

Key Points

• Eversept Partners LP cut its Vaxcyte stake by 15.8% in the fourth quarter, selling 224,261 shares and leaving it with 1,197,722 shares worth about $55.3 million.
• Several other institutional investors also adjusted their positions, while overall hedge funds and institutions own 96.78% of Vaxcyte’s stock.
• Wall Street remains mixed but mostly upbeat: the stock has a Moderate Buy consensus rating with an average price target of $86, though the company recently reported a wider-than-expected quarterly loss.

Eversept Partners LP lowered its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,197,722 shares of the company's stock after selling 224,261 shares during the period. Vaxcyte accounts for 2.8% of Eversept Partners LP's portfolio, making the stock its 8th largest position. Eversept Partners LP owned 0.91% of Vaxcyte worth $55,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of PCVX. Smartleaf Asset Management LLC increased its holdings in shares of Vaxcyte by 156.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the company's stock valued at $27,000 after purchasing an additional 364 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Vaxcyte by 1,463.4% in the fourth 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 increased 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. Allworth Financial LP increased its holdings in shares of Vaxcyte by 148.9% in the third quarter. Allworth Financial LP now owns 1,222 shares of the company's stock valued at $44,000 after purchasing an additional 731 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Vaxcyte in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 96.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PCVX. Wall Street Zen lowered shares of Vaxcyte from a "sell" rating to a "strong sell" rating in a report on Tuesday, April 28th. BTIG Research lifted their target price on shares of Vaxcyte from $85.00 to $89.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Vaxcyte in a report on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vaxcyte in a report on Wednesday, April 8th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $86.00.

Insiders Place Their Bets

In other news, COO Jim Wassil sold 2,250 shares of Vaxcyte stock in a transaction on Monday, June 1st. The shares were sold at an average price of $49.52, for a total transaction of $111,420.00. Following the transaction, the chief operating officer directly owned 158,494 shares of the company's stock, valued at $7,848,622.88. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of Vaxcyte stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the transaction, the chief accounting officer directly owned 28,975 shares in the company, valued at approximately $1,738,500. This represents a 9.38% 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 have sold 7,500 shares of company stock worth $419,288. Insiders own 3.30% of the company's stock.

Vaxcyte Stock Performance

PCVX opened at $50.67 on Thursday. The company has a fifty day moving average price of $53.74 and a two-hundred day moving average price of $52.69. Vaxcyte, Inc. has a 52 week low of $29.08 and a 52 week high of $65.00. The firm has a market capitalization of $7.32 billion, a PE ratio of -7.36 and a beta of 1.24.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing analysts' consensus estimates of ($1.74) by ($0.56). During the same period in the previous year, the business earned ($1.04) EPS. Equities analysts forecast that Vaxcyte, Inc. will post -7.56 EPS for the current year.

About Vaxcyte

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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