Vaxcyte, Inc. $PCVX Stake Cut by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its stake in Vaxcyte, Inc. by 85.2%, selling 275,589 shares during the second quarter and ending up with 47,976 shares valued at $1.56 million.
• Institutional investors own approximately 96.78% of Vaxcyte's stock, indicating strong confidence among large investment firms.
• Analysts maintain a consensus Buy rating for Vaxcyte, with a target price estimate of $106.25, despite the company's recent earnings miss.

Assenagon Asset Management S.A. cut its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 85.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,976 shares of the company's stock after selling 275,589 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Vaxcyte were worth $1,560,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PCVX. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Vaxcyte during the fourth quarter worth $8,487,000. California State Teachers Retirement System lifted its stake in Vaxcyte by 17.5% in the fourth quarter. California State Teachers Retirement System now owns 105,052 shares of the company's stock valued at $8,600,000 after buying an additional 15,616 shares during the last quarter. GAMMA Investing LLC lifted its stake in Vaxcyte by 2,631.8% in the first quarter. GAMMA Investing LLC now owns 9,780 shares of the company's stock valued at $369,000 after buying an additional 9,422 shares during the last quarter. Parallel Advisors LLC lifted its stake in Vaxcyte by 203.6% in the first quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock valued at $61,000 after buying an additional 1,071 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Vaxcyte by 5.5% in the first quarter. Rhumbline Advisers now owns 181,230 shares of the company's stock valued at $6,843,000 after buying an additional 9,416 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCVX. Cowen reiterated a "buy" rating on shares of Vaxcyte in a research note on Thursday, August 7th. The Goldman Sachs Group began coverage on Vaxcyte in a research note on Friday, September 12th. They issued a "neutral" rating and a $38.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $106.25.

Vaxcyte Stock Performance

Shares of PCVX opened at $33.98 on Friday. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -8.27 and a beta of 1.04. Vaxcyte, Inc. has a one year low of $27.66 and a one year high of $118.62. The stock's fifty day moving average is $32.52 and its 200-day moving average is $36.50.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings results 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 in the prior year, the business earned ($1.10) earnings per share. Analysts forecast that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

Vaxcyte Company 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.

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