Clearbridge Investments LLC Sells 56,794 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

Clearbridge Investments LLC reduced its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,102,486 shares of the company's stock after selling 56,794 shares during the period. Clearbridge Investments LLC owned approximately 0.88% of Vaxcyte worth $90,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Whipplewood Advisors LLC bought a new position in Vaxcyte during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC increased its holdings in shares of Vaxcyte by 188.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 398 shares of the company's stock worth $33,000 after buying an additional 260 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Vaxcyte by 100.0% in the fourth quarter. Blue Trust Inc. now owns 742 shares of the company's stock valued at $61,000 after acquiring an additional 371 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Vaxcyte by 77,500.0% in the 4th quarter. Assetmark Inc. now owns 776 shares of the company's stock worth $64,000 after acquiring an additional 775 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. acquired a new position in shares of Vaxcyte in the 3rd quarter worth approximately $92,000. 96.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vaxcyte

In related news, Director Teri Loxam sold 6,250 shares of Vaxcyte stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total transaction of $531,937.50. Following the transaction, the director now owns 7,175 shares of the company's stock, valued at $610,664.25. This trade represents a 46.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Guggenhime sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $86.51, for a total transaction of $692,080.00. Following the completion of the sale, the chief financial officer now directly owns 109,491 shares of the company's stock, valued at $9,472,066.41. The trade was a 6.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,250 shares of company stock worth $3,170,738. 3.10% of the stock is owned by insiders.

Remove Ads

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Evercore ISI upgraded Vaxcyte to a "strong-buy" rating in a research report on Monday, March 31st. Guggenheim restated a "buy" rating and issued a $160.00 target price on shares of Vaxcyte in a research note on Wednesday, March 12th. Bank of America reduced their price target on shares of Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Needham & Company LLC dropped their target price on shares of Vaxcyte from $140.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Vaxcyte currently has a consensus rating of "Buy" and a consensus target price of $136.50.

Vaxcyte Trading Up 3.4 %

Shares of PCVX traded up $1.04 on Friday, reaching $31.60. 5,690,652 shares of the company's stock were exchanged, compared to its average volume of 1,119,961. The business has a 50 day moving average price of $74.59 and a two-hundred day moving average price of $89.66. Vaxcyte, Inc. has a 12 month low of $29.57 and a 12 month high of $121.06. The stock has a market capitalization of $4.07 billion, a P/E ratio of -6.87 and a beta of 1.26.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.14. Equities research analysts predict that Vaxcyte, Inc. will post -4.21 EPS for the current year.

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.