Vaxcyte, Inc. (NASDAQ:PCVX) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its holdings in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 469,911 shares of the company's stock after selling 99,979 shares during the quarter. Bank of America Corp DE owned 0.38% of Vaxcyte worth $38,467,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Whipplewood Advisors LLC bought a new stake in Vaxcyte in the fourth quarter worth $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of Vaxcyte by 188.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 398 shares of the company's stock worth $33,000 after acquiring an additional 260 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Vaxcyte during the 4th quarter worth about $41,000. Blue Trust Inc. grew its holdings in Vaxcyte by 100.0% during the 4th quarter. Blue Trust Inc. now owns 742 shares of the company's stock valued at $61,000 after purchasing an additional 371 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Vaxcyte by 77,500.0% during the 4th quarter. Assetmark Inc. now owns 776 shares of the company's stock valued at $64,000 after purchasing an additional 775 shares during the last quarter. Institutional investors own 96.78% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $90.00 target price on shares of Vaxcyte in a research report on Tuesday, April 8th. Guggenheim restated a "buy" rating and set a $160.00 price objective on shares of Vaxcyte in a report on Wednesday, March 12th. The Goldman Sachs Group decreased their target price on Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Evercore ISI raised shares of Vaxcyte to a "strong-buy" rating in a research note on Monday, March 31st. Finally, 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 note on Tuesday, April 1st. Nine 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.com, the company has a consensus rating of "Buy" and an average price target of $136.50.

Vaxcyte Stock Down 2.8%

NASDAQ:PCVX traded down $1.01 during mid-day trading on Wednesday, reaching $35.56. The company's stock had a trading volume of 278,352 shares, compared to its average volume of 1,349,845. Vaxcyte, Inc. has a 1 year low of $27.66 and a 1 year high of $121.06. The stock has a fifty day moving average of $41.01 and a 200-day moving average of $70.70. The firm has a market capitalization of $4.59 billion, a PE ratio of -7.78 and a beta of 1.27.

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

Insiders Place Their Bets

In other news, COO Jim Wassil sold 8,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $73.27, for a total transaction of $586,160.00. Following the transaction, the chief operating officer now owns 154,931 shares in the company, valued at $11,351,794.37. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Vaxcyte Company 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.