Victory Capital Management Inc. Trims Stock Holdings in Vaxcyte, Inc. $PCVX

Victory Capital Management Inc. lowered its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 30.1% during the third quarter, Holdings Channel reports. The fund owned 314,892 shares of the company’s stock after selling 135,727 shares during the quarter. Victory Capital Management Inc.’s holdings in Vaxcyte were worth $11,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PCVX. Segall Bryant & Hamill LLC boosted its position in Vaxcyte by 2.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 184,795 shares of the company’s stock worth $6,656,000 after purchasing an additional 4,556 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Vaxcyte in the 3rd quarter worth about $45,000. Handelsbanken Fonder AB increased its position in Vaxcyte by 28.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 45,000 shares of the company’s stock valued at $1,621,000 after acquiring an additional 10,100 shares during the period. Westfield Capital Management Co. LP increased its stake in Vaxcyte by 21.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,732,715 shares of the company’s stock valued at $134,452,000 after buying an additional 663,817 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of Vaxcyte during the 3rd quarter valued at $205,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

Analyst Ratings Changes

PCVX has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a report on Friday, January 9th. Guggenheim restated a “buy” rating and set a $116.00 price target on shares of Vaxcyte in a report on Monday, February 2nd. Jefferies Financial Group restated a “buy” rating on shares of Vaxcyte in a research note on Tuesday. Needham & Company LLC increased their target price on Vaxcyte from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, Leerink Partners set a $77.00 price objective on Vaxcyte and gave the company an “outperform” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Vaxcyte has an average rating of “Moderate Buy” and a consensus price target of $94.50.

Vaxcyte Stock Performance

Shares of NASDAQ:PCVX opened at $57.53 on Thursday. Vaxcyte, Inc. has a 52-week low of $27.66 and a 52-week high of $76.61. The company has a 50-day simple moving average of $53.72 and a 200 day simple moving average of $45.55. The company has a market capitalization of $8.28 billion, a P/E ratio of -10.24 and a beta of 1.31.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.46) by ($0.34). During the same period in the previous year, the business posted ($1.12) EPS. As a group, equities analysts forecast that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Jim Wassil sold 7,395 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $58.88, for a total transaction of $435,417.60. Following the transaction, the chief operating officer owned 166,818 shares in the company, valued at approximately $9,822,243.84. This represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Elvia Cowan sold 11,623 shares of Vaxcyte stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $47.92, for a total value of $556,974.16. Following the transaction, the senior vice president owned 14,534 shares of the company’s stock, valued at $696,469.28. This trade represents a 44.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,261 shares of company stock valued at $1,593,767 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

About Vaxcyte

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.