Rock Springs Capital Management LP Grows Stake in Vaxcyte, Inc. $PCVX

Rock Springs Capital Management LP lifted its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 28.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 60,250 shares of the company’s stock after buying an additional 13,250 shares during the period. Rock Springs Capital Management LP’s holdings in Vaxcyte were worth $3,501,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its holdings in Vaxcyte by 156.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the company’s stock valued at $27,000 after purchasing an additional 364 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Vaxcyte by 1,463.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 641 shares of the company’s stock valued at $30,000 after purchasing an additional 600 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Vaxcyte by 33.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. Allworth Financial LP raised its holdings in Vaxcyte by 148.9% during the third quarter. Allworth Financial LP now owns 1,222 shares of the company’s stock worth $44,000 after purchasing an additional 731 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Vaxcyte by 22,500.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company’s stock worth $49,000 after purchasing an additional 1,350 shares in the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PCVX shares. Zacks Research cut shares of Vaxcyte from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Vaxcyte from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vaxcyte has a consensus rating of “Hold” and a consensus price target of $86.00.

Insiders Place Their Bets

In other news, CFO Andrew Guggenhime sold 10,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $57.28, for a total value of $572,800.00. Following the completion of the sale, the chief financial officer directly owned 104,395 shares of the company’s stock, valued at approximately $5,979,745.60. This represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Grant Pickering sold 22,461 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $52.50, for a total transaction of $1,179,202.50. Following the sale, the chief executive officer owned 474,703 shares of the company’s stock, valued at $24,921,907.50. This trade represents a 4.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 75,448 shares of company stock valued at $4,091,197. Insiders own 3.30% of the company’s stock.

Vaxcyte Trading Up 1.5%

Shares of PCVX opened at $55.50 on Tuesday. The firm has a market cap of $8.01 billion, a PE ratio of -8.07 and a beta of 1.22. The company’s 50 day simple moving average is $52.71 and its 200-day simple moving average is $54.71. Vaxcyte, Inc. has a 12-month low of $29.08 and a 12-month high of $65.00.

Vaxcyte (NASDAQ:PCVX) last announced 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 quarter last year, the business earned ($1.04) EPS. As a group, equities research analysts forecast that Vaxcyte, Inc. will post -7.91 EPS for the current fiscal year.

Vaxcyte Company 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.