Cormorant Asset Management LP Reduces Stake in Vaxcyte, Inc. $PCVX

Cormorant Asset Management LP lowered its stake in Vaxcyte, Inc. (NASDAQ:PCVX) by 28.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the company’s stock after selling 50,000 shares during the period. Cormorant Asset Management LP owned approximately 0.10% of Vaxcyte worth $5,768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCVX. Smartleaf Asset Management LLC raised its holdings in Vaxcyte by 156.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the company’s stock valued at $27,000 after buying an additional 364 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Vaxcyte by 1,463.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 641 shares of the company’s stock valued at $30,000 after buying an additional 600 shares during the period. EverSource Wealth Advisors LLC increased its position in Vaxcyte by 33.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. Allworth Financial LP increased its position in Vaxcyte by 148.9% during the third quarter. Allworth Financial LP now owns 1,222 shares of the company’s stock valued at $44,000 after acquiring an additional 731 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in Vaxcyte during the third quarter valued at $45,000. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Insider Transactions at Vaxcyte

In other news, CAO Elvia Cowan sold 3,000 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the transaction, the chief accounting officer owned 28,975 shares of the company’s stock, valued at approximately $1,738,500. This represents a 9.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 2,250 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $49.52, for a total value of $111,420.00. Following the transaction, the chief operating officer directly owned 158,494 shares in the company, valued at $7,848,622.88. The trade was a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,500 shares of company stock worth $419,288 over the last 90 days. Insiders own 3.30% of the company’s stock.

Vaxcyte Stock Up 2.8%

Shares of Vaxcyte stock opened at $50.67 on Thursday. The stock’s fifty day moving average is $53.74 and its two-hundred day moving average is $52.69. The company has a market capitalization of $7.32 billion, a PE ratio of -7.36 and a beta of 1.24. Vaxcyte, Inc. has a 52 week low of $29.08 and a 52 week high of $65.00.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing analysts’ consensus estimates of ($1.74) by ($0.56). During the same period last year, the company posted ($1.04) EPS. As a group, research analysts anticipate that Vaxcyte, Inc. will post -7.56 earnings per share for the current year.

Analyst Ratings Changes

PCVX has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Vaxcyte in a research report on Tuesday, March 10th. Wall Street Zen downgraded shares of Vaxcyte from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 28th. BTIG Research upped their price target on shares of Vaxcyte from $85.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a report on Wednesday, April 8th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Vaxcyte Profile

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company’s platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte’s lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.