Pier Capital LLC Reduces Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

Pier Capital LLC lowered its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 58.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 47,567 shares of the company's stock after selling 67,402 shares during the period. Pier Capital LLC's holdings in Vaxcyte were worth $5,435,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Vaxcyte during the third quarter valued at about $27,000. Fifth Third Bancorp purchased a new position in Vaxcyte in the 2nd quarter worth approximately $35,000. Blue Trust Inc. increased its stake in Vaxcyte by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company's stock worth $42,000 after purchasing an additional 93 shares during the period. J.Safra Asset Management Corp lifted its position in 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 purchased a new stake in shares of Vaxcyte during the second quarter valued at approximately $70,000. Hedge funds and other institutional investors own 96.78% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on PCVX. Jefferies Financial Group lifted their target price on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald restated an "overweight" rating on shares of Vaxcyte in a research report on Wednesday, November 6th. Leerink Partners increased their target price on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an "outperform" rating in a report on Tuesday, September 3rd. Needham & Company LLC restated a "buy" rating and set a $140.00 price target on shares of Vaxcyte in a report on Wednesday, November 6th. Finally, Bank of America upped their price target on Vaxcyte from $101.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte currently has a consensus rating of "Buy" and an average target price of $147.50.

Vaxcyte Trading Up 3.6 %

NASDAQ:PCVX traded up $3.27 during trading hours on Friday, reaching $93.31. 876,650 shares of the company traded hands, compared to its average volume of 1,594,175. The business's 50-day moving average price is $103.45 and its two-hundred day moving average price is $91.10. Vaxcyte, Inc. has a 1 year low of $53.83 and a 1 year high of $121.06. The stock has a market capitalization of $11.63 billion, a P/E ratio of -20.28 and a beta of 0.94.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.27. During the same period in the previous year, the business posted ($0.91) earnings per share. As a group, equities analysts anticipate that Vaxcyte, Inc. will post -4.14 EPS for the current year.

Insider Activity

In other news, COO Jim Wassil sold 8,000 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $92.49, for a total transaction of $739,920.00. Following the completion of the transaction, the chief operating officer now directly owns 205,695 shares of the company's stock, valued at $19,024,730.55. The trade was a 3.74 % 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, SVP Mikhail Eydelman sold 5,000 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $109.27, for a total transaction of $546,350.00. Following the transaction, the senior vice president now owns 28,623 shares in the company, valued at approximately $3,127,635.21. This trade represents a 14.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,464 shares of company stock worth $11,924,596 over the last 90 days. 3.10% of the stock is currently owned by insiders.

Vaxcyte 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.