Braidwell LP Sells 510,735 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

Braidwell LP trimmed its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 63.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 297,568 shares of the company's stock after selling 510,735 shares during the quarter. Braidwell LP owned approximately 0.24% of Vaxcyte worth $34,003,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PCVX. Riverview Trust Co bought a new position in shares of Vaxcyte in the 3rd quarter valued at about $27,000. Fifth Third Bancorp bought a new position in Vaxcyte during the second quarter worth $35,000. Blue Trust Inc. grew its stake in Vaxcyte by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company's stock valued at $42,000 after buying an additional 93 shares during the last quarter. J.Safra Asset Management Corp grew its position in shares of Vaxcyte by 649.4% in the second quarter. J.Safra Asset Management Corp now owns 607 shares of the company's stock valued at $46,000 after purchasing an additional 526 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Vaxcyte during the 2nd quarter worth $70,000. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 target price on shares of Vaxcyte in a report on Wednesday, November 6th. BTIG Research lifted their price objective on Vaxcyte from $98.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Cantor Fitzgerald reissued an "overweight" rating on shares of Vaxcyte in a report on Wednesday, November 6th. Bank of America boosted their price target on Vaxcyte from $101.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Finally, Leerink Partners increased their price objective on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 3rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $147.50.

Insider Activity

In related news, SVP Elvia Cowan sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $107.67, for a total value of $538,350.00. Following the completion of the transaction, the senior vice president now owns 12,723 shares in the company, valued at $1,369,885.41. This trade represents a 28.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Grant Pickering sold 2,366 shares of Vaxcyte stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $103.89, for a total transaction of $245,803.74. Following the sale, the chief executive officer now owns 137,398 shares in the company, valued at approximately $14,274,278.22. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,464 shares of company stock worth $11,455,576. Insiders own 3.10% of the company's stock.

Vaxcyte Stock Up 0.4 %

Shares of PCVX stock traded up $0.36 on Friday, reaching $94.34. The company had a trading volume of 809,063 shares, compared to its average volume of 906,580. The stock has a market capitalization of $11.76 billion, a PE ratio of -20.51 and a beta of 1.01. The business's 50-day moving average is $105.60 and its 200 day moving average is $90.35. Vaxcyte, Inc. has a one year low of $50.04 and a one year high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.27. During the same quarter in the prior year, the company posted ($0.91) earnings per share. On average, sell-side analysts forecast that Vaxcyte, Inc. will post -4.14 earnings per share for the current fiscal year.

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.