Braidwell LP Sells 510,735 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

Braidwell LP lessened its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 63.2% in the third quarter, Holdings Channel reports. The institutional investor owned 297,568 shares of the company’s stock after selling 510,735 shares during the period. Braidwell LP’s holdings in Vaxcyte were worth $34,003,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Vaxcyte during the third quarter valued at $27,000. Blue Trust Inc. increased its stake in Vaxcyte by 33.5% during the third quarter. Blue Trust Inc. now owns 371 shares of the company’s stock worth $42,000 after acquiring an additional 93 shares during the last quarter. Fifth Third Bancorp bought a new stake in Vaxcyte during the second quarter worth approximately $35,000. J.Safra Asset Management Corp raised its holdings in shares of Vaxcyte by 649.4% in the second quarter. J.Safra Asset Management Corp now owns 607 shares of the company’s stock worth $46,000 after buying an additional 526 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in shares of Vaxcyte by 1,007.9% in the third quarter. Meeder Asset Management Inc. now owns 698 shares of the company’s stock worth $80,000 after buying an additional 635 shares during the period. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Price Performance

Shares of Vaxcyte stock opened at $93.98 on Friday. The stock has a market cap of $11.71 billion, a P/E ratio of -20.43 and a beta of 1.01. The stock’s 50 day simple moving average is $106.02 and its 200-day simple moving average is $90.00. Vaxcyte, Inc. has a 1-year low of $48.81 and a 1-year high of $121.06.

Vaxcyte (NASDAQ:PCVX) last announced its earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.27. During the same period in the previous year, the business posted ($0.91) earnings per share. As a group, research analysts expect that Vaxcyte, Inc. will post -4.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Vaxcyte news, COO Jim Wassil sold 8,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $106.80, for a total value of $854,400.00. Following the completion of the transaction, the chief operating officer now owns 205,695 shares in the company, valued at $21,968,226. This represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Grant Pickering sold 2,366 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $103.89, for a total transaction of $245,803.74. Following the completion of the transaction, the chief executive officer now owns 137,398 shares of the company’s stock, valued at $14,274,278.22. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,464 shares of company stock worth $11,455,576. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PCVX. Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a research report on Wednesday, November 6th. Jefferies Financial Group raised their target price on Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Bank of America lifted their price objective on Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Mizuho lifted their price target on Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte presently has a consensus rating of “Buy” and an average price target of $147.50.

Vaxcyte Company 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.