Westfield Capital Management Co. LP Has $81.38 Million Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

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 decreased its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 16.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,155,137 shares of the company's stock after selling 411,622 shares during the period. Westfield Capital Management Co. LP owned approximately 1.67% of Vaxcyte worth $81,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PCVX. National Bank of Canada FI acquired a new position in shares of Vaxcyte in the 4th quarter valued at $41,000. Parallel Advisors LLC grew its holdings in shares of Vaxcyte by 203.6% in the 1st 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 period. IFP Advisors Inc grew its holdings in shares of Vaxcyte by 376.4% in the 1st quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock valued at $62,000 after buying an additional 1,306 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Vaxcyte by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company's stock valued at $112,000 after buying an additional 293 shares during the period. Finally, J.Safra Asset Management Corp grew its holdings in shares of Vaxcyte by 65.8% in the 1st quarter. J.Safra Asset Management Corp now owns 3,161 shares of the company's stock valued at $119,000 after buying an additional 1,254 shares during the period. Institutional investors and hedge funds own 96.78% of the company's stock.

Vaxcyte Trading Down 2.7%

PCVX opened at $33.02 on Monday. The stock has a market capitalization of $4.26 billion, a P/E ratio of -8.28 and a beta of 1.21. Vaxcyte, Inc. has a 12 month low of $27.66 and a 12 month high of $121.06. The firm's fifty day simple moving average is $34.44 and its 200 day simple moving average is $50.05.

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

Analyst Upgrades and Downgrades

PCVX has been the subject of several research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price target on shares of Vaxcyte in a report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of Vaxcyte in a research report on Tuesday, April 22nd. They issued an "overweight" rating on the stock. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Vaxcyte presently has an average rating of "Buy" and a consensus price target of $136.50.

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.

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