Spruce Street Capital LP Takes Position in Vaxcyte, Inc. $PCVX

Spruce Street Capital LP purchased a new stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 400,360 shares of the company’s stock, valued at approximately $18,473,000. Vaxcyte accounts for about 6.1% of Spruce Street Capital LP’s holdings, making the stock its 5th largest position. Spruce Street Capital LP owned about 0.31% of Vaxcyte at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCVX. Smartleaf Asset Management LLC grew its stake 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 during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Vaxcyte by 1,463.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 641 shares of the company’s stock worth $30,000 after purchasing an additional 600 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 during the period. Allworth Financial LP raised 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Vaxcyte during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Insider Activity

In other Vaxcyte news, COO Jim Wassil sold 2,250 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $49.52, for a total transaction of $111,420.00. Following the sale, the chief operating officer owned 158,494 shares in the company, valued at $7,848,622.88. This represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $60.00, for a total value of $180,000.00. Following the sale, the chief accounting officer owned 28,975 shares in the company, valued at approximately $1,738,500. This trade represents a 9.38% 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. In the last three months, insiders have sold 7,500 shares of company stock worth $419,288. 3.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on PCVX shares. BTIG Research lifted their price target on Vaxcyte from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Wall Street Zen lowered Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a research note on Wednesday, April 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Vaxcyte in a research note on Tuesday, March 10th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.00.

Vaxcyte Stock Up 4.4%

Shares of Vaxcyte stock opened at $49.56 on Tuesday. The business’s fifty day simple moving average is $54.11 and its 200-day simple moving average is $52.68. Vaxcyte, Inc. has a 52 week low of $29.08 and a 52 week high of $65.00. The firm has a market cap of $7.16 billion, a PE ratio of -7.20 and a beta of 1.24.

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