Vaxcyte, Inc. (NASDAQ:PCVX) is Frazier Life Sciences Management L.P.'s 7th Largest Position

Frazier Life Sciences Management L.P. trimmed its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 15.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 879,405 shares of the company's stock after selling 160,000 shares during the period. Vaxcyte comprises 4.0% of Frazier Life Sciences Management L.P.'s investment portfolio, making the stock its 7th biggest position. Frazier Life Sciences Management L.P. owned approximately 0.71% of Vaxcyte worth $100,490,000 at the end of the most recent reporting period.

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

Vaxcyte Price Performance

Vaxcyte stock traded down $1.63 during trading hours on Tuesday, reaching $90.43. The stock had a trading volume of 951,907 shares, compared to its average volume of 905,805. The stock has a market cap of $11.27 billion, a PE ratio of -19.66 and a beta of 0.94. Vaxcyte, Inc. has a 52 week low of $53.83 and a 52 week high of $121.06. The company has a fifty day simple moving average of $103.01 and a 200-day simple moving average of $91.26.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on PCVX. Needham & Company LLC restated a "buy" rating and set a $140.00 price target on shares of Vaxcyte in a research note on Wednesday, November 6th. Leerink Partners upped their price target on shares of Vaxcyte from $106.00 to $153.00 and gave the company an "outperform" rating in a research note on Tuesday, September 3rd. BTIG Research increased their target price on shares of Vaxcyte from $98.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Bank of America raised their price objective on shares of Vaxcyte from $101.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Finally, Mizuho raised their price objective on shares of Vaxcyte from $113.00 to $163.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $147.50.

Insider Activity

In related news, CEO Grant Pickering sold 15,000 shares of Vaxcyte stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $106.82, for a total transaction of $1,602,300.00. Following the completion of the transaction, the chief executive officer now directly owns 435,219 shares of the company's stock, valued at $46,490,093.58. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total transaction of $927,520.00. Following the transaction, the chief financial officer now directly owns 90,383 shares of the company's stock, valued at approximately $10,479,005.02. This trade represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,830 shares of company stock valued at $12,600,310. Corporate insiders own 3.10% of the company's stock.

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.