Vaxcyte, Inc. $PCVX Stake Boosted by Elmind Capital LP

Key Points

• Elmind Capital increased its Vaxcyte stake by 8.6% in the first quarter, purchasing 25,000 additional shares to hold 316,500 shares worth approximately $18.4 million. Institutional investors collectively own 96.78% of PCVX.
• Vaxcyte shares opened at $55.50, with a market capitalization of roughly $8.01 billion. The company reported a quarterly loss of $2.30 per share, missing the consensus estimate of a $1.74 loss.
• Analyst sentiment is mixed: six analysts rate the stock a Buy, one rates it Hold and two rate it Sell, producing an overall “Hold” rating and an average price target of $86.00. Meanwhile, insiders sold 75,448 shares worth about $4.1 million over the past 90 days.

Elmind Capital LP grew its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316,500 shares of the company's stock after purchasing an additional 25,000 shares during the quarter. Vaxcyte makes up about 5.2% of Elmind Capital LP's investment portfolio, making the stock its 8th largest holding. Elmind Capital LP owned approximately 0.22% of Vaxcyte worth $18,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in Vaxcyte by 33.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company's stock worth $34,000 after buying an additional 184 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of Vaxcyte by 2.9% in the first quarter. Meeder Advisory Services Inc. now owns 8,335 shares of the company's stock worth $484,000 after acquiring an additional 231 shares during the period. CWM LLC grew its position in shares of Vaxcyte by 9.0% during the fourth quarter. CWM LLC now owns 2,840 shares of the company's stock worth $131,000 after purchasing an additional 234 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Vaxcyte by 0.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 31,274 shares of the company's stock worth $1,443,000 after purchasing an additional 252 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Vaxcyte by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 5,275 shares of the company's stock valued at $307,000 after purchasing an additional 343 shares during the period. 96.78% of the stock is owned by hedge funds and other institutional investors.

Vaxcyte Stock Performance

Shares of PCVX opened at $55.50 on Tuesday. The company's fifty day moving average is $52.71 and its 200 day moving average is $54.71. Vaxcyte, Inc. has a fifty-two week low of $29.08 and a fifty-two week high of $65.00. The stock has a market capitalization of $8.01 billion, a PE ratio of -8.07 and a beta of 1.22.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same quarter last year, the company posted ($1.04) EPS. As a group, research analysts forecast that Vaxcyte, Inc. will post -7.91 earnings per share for the current year.

Insider Transactions at Vaxcyte

In other news, CFO Andrew Guggenhime sold 10,000 shares of Vaxcyte stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $57.28, for a total value of $572,800.00. Following the completion of the transaction, the chief financial officer owned 104,395 shares in the company, valued at approximately $5,979,745.60. The trade was a 8.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 dated Monday, June 1st. The stock was 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 approximately $7,848,622.88. This represents a 1.40% decrease in their ownership of the stock. 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 90 days, insiders sold 75,448 shares of company stock worth $4,091,197. 3.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen downgraded Vaxcyte from a "sell" rating to a "strong sell" rating in a research note on Tuesday, April 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a research report on Monday, July 6th. Finally, Zacks Research downgraded shares of Vaxcyte from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 14th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Vaxcyte has an average rating of "Hold" and an average 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.

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