Driehaus Capital Management LLC Reduces Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Driehaus Capital Management LLC lessened its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,166,833 shares of the company's stock after selling 554,463 shares during the quarter. Vaxcyte comprises 0.8% of Driehaus Capital Management LLC's holdings, making the stock its 24th biggest position. Driehaus Capital Management LLC owned 0.94% of Vaxcyte worth $95,517,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction on 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 transaction, the chief financial officer now directly owns 109,491 shares in the company, valued at approximately $9,180,820.35. The trade was a 6.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

PCVX has been the subject of a number of recent research reports. The Goldman Sachs Group decreased their price target on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Bank of America dropped their price objective 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. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of Vaxcyte in a research note on Tuesday, April 8th. Guggenheim restated a "buy" rating and set a $160.00 target price on shares of Vaxcyte in a research report on Wednesday, March 12th. Finally, Evercore ISI raised shares of Vaxcyte to a "strong-buy" rating in a research note on Monday, March 31st. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $136.50.

Vaxcyte Stock Down 4.2%

PCVX stock traded down $1.33 during midday trading on Tuesday, reaching $30.26. The stock had a trading volume of 714,124 shares, compared to its average volume of 1,310,587. The business has a fifty day simple moving average of $45.81 and a two-hundred day simple moving average of $73.63. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -6.58 and a beta of 1.27. Vaxcyte, Inc. has a twelve month low of $27.66 and a twelve month high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted 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 business earned ($0.85) earnings per share. On average, equities analysts predict 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.