Walleye Capital LLC Trims Holdings in Vaxcyte, Inc. $PCVX

Key Points

• Walleye Capital LLC has reduced its stake in Vaxcyte, Inc. by 29%, selling 43,190 shares during the first quarter, leaving it with 105,966 shares valued at approximately $4 million.
• Other institutional investors have increased their positions in Vaxcyte, with Wellington Management Group boosting its stake by 44.4%, now owning over 6.4 million shares valued at $242 million.
• Vaxcyte's stock has a current average rating of "Buy" from analysts, with a consensus target price of $136.50, despite reporting a quarterly loss that missed estimates.

Walleye Capital LLC reduced its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 29.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 105,966 shares of the company's stock after selling 43,190 shares during the quarter. Walleye Capital LLC owned approximately 0.08% of Vaxcyte worth $4,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC purchased a new stake in Vaxcyte in the 1st quarter valued at $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Vaxcyte in the first quarter worth $35,000. Parallel Advisors LLC boosted 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. IFP Advisors Inc boosted its position in Vaxcyte by 376.4% in the first quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock worth $62,000 after purchasing an additional 1,306 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Vaxcyte in the fourth quarter worth $214,000. 96.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Cowen reissued a "buy" rating on shares of Vaxcyte in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $136.50.

Vaxcyte Stock Performance

NASDAQ:PCVX traded up $0.02 during trading hours on Monday, reaching $30.79. The stock had a trading volume of 944,896 shares, compared to its average volume of 1,511,927. The stock has a 50 day simple moving average of $33.29 and a 200 day simple moving average of $41.80. Vaxcyte, Inc. has a 12-month low of $27.66 and a 12-month high of $121.06. The stock has a market cap of $4.00 billion, a P/E ratio of -7.49 and a beta of 1.04.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.10). During the same period in the previous year, the firm posted ($1.10) earnings per share. On average, equities analysts expect that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal 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.