Parkman Healthcare Partners LLC Trims Stake in Vaxcyte, Inc. (NASDAQ:PCVX)

Parkman Healthcare Partners LLC reduced its holdings in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 13.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,249 shares of the company's stock after selling 19,942 shares during the quarter. Vaxcyte accounts for about 1.9% of Parkman Healthcare Partners LLC's investment portfolio, making the stock its 18th largest position. Parkman Healthcare Partners LLC owned 0.10% of Vaxcyte worth $14,884,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PCVX. Riverview Trust Co bought a new stake in Vaxcyte during the third quarter worth about $27,000. Blue Trust Inc. boosted its position in Vaxcyte by 33.5% during the third 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 period. Fifth Third Bancorp bought a new position in shares of Vaxcyte during the second quarter valued at about $35,000. J.Safra Asset Management Corp lifted its stake in shares of Vaxcyte by 649.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 607 shares of the company's stock valued at $46,000 after acquiring an additional 526 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Vaxcyte by 1,007.9% during the third quarter. Meeder Asset Management Inc. now owns 698 shares of the company's stock valued at $80,000 after purchasing an additional 635 shares during the period. Hedge funds and other institutional investors own 96.78% of the company's stock.

Vaxcyte Stock Up 3.0 %

Shares of NASDAQ PCVX traded up $2.67 during trading on Wednesday, reaching $93.04. The company had a trading volume of 760,617 shares, compared to its average volume of 906,135. The business's 50-day moving average is $104.69 and its 200 day moving average is $90.71. The stock has a market cap of $11.60 billion, a PE ratio of -19.65 and a beta of 0.94. Vaxcyte, Inc. has a 12-month low of $53.26 and a 12-month high of $121.06.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on PCVX shares. Bank of America upped their price objective 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. Mizuho boosted their target price 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 reaffirmed an "overweight" rating on shares of Vaxcyte in a research note on Wednesday, November 6th. BTIG Research boosted their price objective on shares of Vaxcyte from $98.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 target price on shares of Vaxcyte in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vaxcyte currently has a consensus rating of "Buy" and an average target price of $147.50.

Insiders Place Their Bets

In other news, CEO Grant Pickering sold 15,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $92.45, for a total transaction of $1,386,750.00. Following the transaction, the chief executive officer now directly owns 450,301 shares of the company's stock, valued at $41,630,327.45. This represents a 3.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mikhail Eydelman sold 5,000 shares of Vaxcyte stock in a transaction on Monday, October 7th. The stock was sold at an average price of $109.27, for a total value of $546,350.00. Following the completion of the sale, the senior vice president now directly owns 28,623 shares of the company's stock, valued at $3,127,635.21. The trade was a 14.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,464 shares of company stock valued at $11,924,596. 3.10% of the stock is 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.