Pier Capital LLC Cuts Stock Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Pier Capital LLC cut its holdings in Vaxcyte, Inc. (NASDAQ:PCVX) by 9.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,969 shares of the company’s stock after selling 12,415 shares during the quarter. Vaxcyte accounts for 1.3% of Pier Capital LLC’s investment portfolio, making the stock its 23rd largest position. Pier Capital LLC owned about 0.11% of Vaxcyte worth $8,681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quest Partners LLC purchased a new stake in shares of Vaxcyte in the second quarter valued at approximately $70,000. Arizona State Retirement System boosted its stake in shares of Vaxcyte by 4.1% in the second quarter. Arizona State Retirement System now owns 25,796 shares of the company’s stock worth $1,948,000 after acquiring an additional 1,013 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Vaxcyte by 9.5% in the second quarter. Victory Capital Management Inc. now owns 307,516 shares of the company’s stock worth $23,221,000 after acquiring an additional 26,641 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Vaxcyte by 11.1% in the second quarter. TD Asset Management Inc now owns 312,426 shares of the company’s stock worth $23,591,000 after acquiring an additional 31,138 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Vaxcyte by 7.4% in the second quarter. Rhumbline Advisers now owns 159,295 shares of the company’s stock worth $12,028,000 after acquiring an additional 11,001 shares during the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Vaxcyte Stock Performance

NASDAQ PCVX opened at $116.23 on Wednesday. The stock’s fifty day moving average is $83.37 and its two-hundred day moving average is $74.10. The firm has a market capitalization of $12.65 billion, a P/E ratio of -27.16 and a beta of 0.97. Vaxcyte, Inc. has a fifty-two week low of $44.20 and a fifty-two week high of $119.50.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Tuesday, August 6th. The company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.04. During the same period in the previous year, the company posted ($0.70) earnings per share. As a group, sell-side analysts forecast that Vaxcyte, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho lifted their price target on Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research note on Tuesday. Leerink Partners lifted their price target on Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a research note on Thursday, June 20th. Jefferies Financial Group lifted their price target on Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Needham & Company LLC boosted their price objective on Vaxcyte from $95.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $147.50.

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, SVP Elvia Cowan sold 5,000 shares of Vaxcyte stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $107.67, for a total value of $538,350.00. Following the sale, the senior vice president now owns 12,723 shares in the company, valued at $1,369,885.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Vaxcyte news, SVP Elvia Cowan sold 5,000 shares of Vaxcyte stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $107.67, for a total value of $538,350.00. Following the sale, the senior vice president now owns 12,723 shares in the company, valued at $1,369,885.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jim Wassil sold 10,000 shares of Vaxcyte stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $111.93, for a total value of $1,119,300.00. Following the completion of the sale, the chief operating officer now owns 207,503 shares in the company, valued at approximately $23,225,810.79. The disclosure for this sale can be found here. Insiders have sold 85,283 shares of company stock worth $7,271,218 over the last quarter. 3.10% of the stock is currently owned by company insiders.

About Vaxcyte

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.