Vaxcyte, Inc. (NASDAQ:PCVX) Stock Position Lessened by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management reduced its stake in Vaxcyte, Inc. by 16% in Q1, holding 2,155,137 shares valued at approximately $81.38 million.
• Vaxcyte reported a quarterly EPS of (1.04), missing analysts' expectations, and analysts predict an average EPS of (4.21) for the current fiscal year.
• The stock has a market capitalization of $4.26 billion with a current price target averaging $136.50 from research analysts, reflecting positive sentiment despite recent performance.

Westfield Capital Management Co. LP lowered its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,155,137 shares of the company's stock after selling 411,622 shares during the period. Westfield Capital Management Co. LP owned about 1.67% of Vaxcyte worth $81,378,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. National Bank of Canada FI purchased a new stake in Vaxcyte in the 4th quarter valued at approximately $41,000. Parallel Advisors LLC raised its holdings in shares of 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 acquiring an additional 1,071 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Vaxcyte by 376.4% in the first quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock valued at $62,000 after acquiring an additional 1,306 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Vaxcyte by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company's stock valued at $112,000 after acquiring an additional 293 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its position in Vaxcyte by 65.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,161 shares of the company's stock worth $119,000 after purchasing an additional 1,254 shares in the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PCVX. Cowen restated a "buy" rating on shares of Vaxcyte in a report on Thursday. Cantor Fitzgerald assumed coverage on shares of Vaxcyte in a research note on Tuesday, April 22nd. They set an "overweight" rating on the stock. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $136.50.

Vaxcyte Price Performance

PCVX stock traded down $2.89 on Thursday, hitting $30.12. 1,927,704 shares of the company were exchanged, compared to its average volume of 1,782,476. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -7.56 and a beta of 1.21. Vaxcyte, Inc. has a twelve month low of $27.66 and a twelve month high of $121.06. The business's fifty day moving average is $34.54 and its two-hundred day moving average is $49.47.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.22) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same quarter in the previous year, the business posted ($1.10) earnings per share. Equities research analysts expect that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Vaxcyte 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.