Victory Capital Management Inc. Cuts Stock Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Victory Capital Management Inc. lowered its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,819 shares of the company's stock after selling 82,737 shares during the period. Victory Capital Management Inc. owned 0.17% of Vaxcyte worth $8,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PCVX. National Bank of Canada FI bought a new stake in Vaxcyte in the fourth quarter worth $41,000. Parallel Advisors LLC increased its position in Vaxcyte by 203.6% in the first quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock worth $61,000 after purchasing an additional 1,071 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Vaxcyte in the fourth quarter worth $214,000. Nisa Investment Advisors LLC increased its position in Vaxcyte by 10.9% in the first quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company's stock worth $112,000 after purchasing an additional 293 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Vaxcyte in the fourth quarter worth $248,000. Institutional investors own 96.78% of the company's stock.

Analyst Upgrades and Downgrades

PCVX has been the topic of several research reports. Bank of America reduced their price target on shares of Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Cantor Fitzgerald started coverage on shares of Vaxcyte in a research report on Tuesday, April 22nd. They set an "overweight" rating on the stock. Needham & Company LLC reissued a "buy" rating and set a $90.00 target price on shares of Vaxcyte in a research note on Tuesday, April 8th. The Goldman Sachs Group cut their price target on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Finally, Evercore ISI raised shares of Vaxcyte to a "strong-buy" rating in a research note on Monday, March 31st. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Vaxcyte has a consensus rating of "Buy" and a consensus target price of $136.50.

Vaxcyte Trading Down 1.0%

PCVX traded down $0.35 on Monday, hitting $36.28. 244,100 shares of the company's stock were exchanged, compared to its average volume of 1,813,161. Vaxcyte, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $121.06. The firm has a 50-day moving average price of $34.38 and a 200-day moving average price of $51.77. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -9.10 and a beta of 1.19.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.02). During the same period in the prior year, the business earned ($0.85) EPS. On average, equities analysts predict that Vaxcyte, Inc. will post -4.21 EPS for the current year.

About Vaxcyte

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.