Fred Alger Management LLC Sells 720,710 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

Fred Alger Management LLC reduced its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 57.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 523,007 shares of the company's stock after selling 720,710 shares during the period. Fred Alger Management LLC owned about 0.42% of Vaxcyte worth $42,813,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Vaxcyte by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company's stock worth $979,184,000 after acquiring an additional 521,204 shares during the last quarter. Capital Research Global Investors raised its position in shares of Vaxcyte by 26.8% in the fourth quarter. Capital Research Global Investors now owns 6,210,523 shares of the company's stock valued at $508,393,000 after purchasing an additional 1,312,302 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Vaxcyte by 3.0% during the 4th quarter. Franklin Resources Inc. now owns 2,869,332 shares of the company's stock worth $234,884,000 after buying an additional 82,997 shares during the period. Geode Capital Management LLC grew its stake in Vaxcyte by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 2,802,888 shares of the company's stock valued at $229,495,000 after buying an additional 102,106 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Vaxcyte by 8.1% during the fourth quarter. Alliancebernstein L.P. now owns 1,779,362 shares of the company's stock worth $145,659,000 after acquiring an additional 133,448 shares during the last quarter. Institutional investors own 96.78% of the company's stock.

Wall Street Analyst Weigh In

PCVX has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Cantor Fitzgerald began coverage on shares of Vaxcyte in a research report on Tuesday, April 22nd. They set an "overweight" rating on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price target on shares of Vaxcyte in a research note on Tuesday, April 8th. Guggenheim reiterated a "buy" rating and set a $160.00 target price on shares of Vaxcyte in a research report on Wednesday, March 12th. Finally, Bank of America dropped their price target on Vaxcyte from $157.00 to $137.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $136.50.

Vaxcyte Trading Down 0.8 %

Shares of PCVX stock opened at $29.00 on Thursday. The business's 50-day moving average price is $48.25 and its 200-day moving average price is $75.86. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -6.30 and a beta of 1.27. Vaxcyte, Inc. has a 12 month low of $27.66 and a 12 month high of $121.06.

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

Insider Transactions at Vaxcyte

In other news, CFO Andrew Guggenhime sold 8,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $83.85, for a total value of $670,800.00. Following the completion of the sale, the chief financial officer now directly owns 109,491 shares in the company, valued at $9,180,820.35. This trade represents a 6.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.10% of the company's stock.

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.

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