Fmr LLC Sells 366,673 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

FMR LLC trimmed its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,800,667 shares of the company's stock after selling 366,673 shares during the quarter. FMR LLC owned approximately 12.68% of Vaxcyte worth $1,805,542,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PCVX. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 93 shares during the period. Nisa Investment Advisors LLC increased its position in Vaxcyte by 5.2% during the third quarter. Nisa Investment Advisors LLC now owns 2,209 shares of the company's stock worth $252,000 after buying an additional 110 shares during the last quarter. CIBC Asset Management Inc raised its stake in Vaxcyte by 3.6% in the third quarter. CIBC Asset Management Inc now owns 3,136 shares of the company's stock valued at $358,000 after buying an additional 110 shares during the period. Amalgamated Bank lifted its position in shares of Vaxcyte by 4.2% in the second quarter. Amalgamated Bank now owns 3,759 shares of the company's stock valued at $284,000 after buying an additional 150 shares during the last quarter. Finally, Riverview Trust Co bought a new position in shares of Vaxcyte during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 96.78% of the company's stock.

Insider Activity at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 2,366 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 137,398 shares in the company, valued at $14,274,278.22. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Guggenhime sold 8,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total value of $927,520.00. Following the completion of the sale, the chief financial officer now directly owns 90,383 shares in the company, valued at approximately $10,479,005.02. This represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,464 shares of company stock valued at $11,455,576 over the last quarter. 3.10% of the stock is owned by corporate insiders.

Vaxcyte Stock Up 2.8 %

Shares of PCVX traded up $2.53 during mid-day trading on Wednesday, hitting $93.98. 784,862 shares of the company's stock were exchanged, compared to its average volume of 907,004. Vaxcyte, Inc. has a 52 week low of $48.81 and a 52 week high of $121.06. The stock's 50-day simple moving average is $106.48 and its 200-day simple moving average is $89.97. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of -20.43 and a beta of 1.01.

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

Analysts Set New Price Targets

PCVX has been the topic of a number of research analyst reports. Mizuho increased their price target on Vaxcyte from $113.00 to $163.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Cantor Fitzgerald restated an "overweight" rating on shares of Vaxcyte in a research note on Wednesday, November 6th. Bank of America upped their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. BTIG Research raised their price objective on shares of Vaxcyte from $98.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group upped their target price on Vaxcyte from $108.00 to $129.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Vaxcyte presently has an average rating of "Buy" and a consensus price target of $147.50.

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.