Cormorant Asset Management LP Sells 50,000 Shares of Vaxcyte, Inc. $PCVX

Cormorant Asset Management LP cut its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 28.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,000 shares of the company’s stock after selling 50,000 shares during the period. Cormorant Asset Management LP’s holdings in Vaxcyte were worth $5,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCVX. Smartleaf Asset Management LLC boosted its stake in shares of Vaxcyte by 156.2% during 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 boosted its position in Vaxcyte by 1,463.4% during 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 in the last quarter. EverSource Wealth Advisors LLC boosted its position in Vaxcyte by 33.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. Allworth Financial LP boosted 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 purchasing an additional 731 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Vaxcyte during the third quarter valued at about $45,000. 96.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Vaxcyte news, COO Jim Wassil sold 2,250 shares of Vaxcyte 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 completion of the sale, the chief operating officer owned 158,494 shares of the company’s stock, valued at approximately $7,848,622.88. The trade was a 1.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 Vaxcyte 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 directly owned 28,975 shares of the company’s stock, valued at approximately $1,738,500. This represents a 9.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,500 shares of company stock valued at $419,288 in the last 90 days. 3.30% of the stock is currently owned by company insiders.

Vaxcyte Trading Up 2.8%

NASDAQ:PCVX opened at $50.67 on Thursday. Vaxcyte, Inc. has a twelve month low of $29.08 and a twelve month high of $65.00. The company has a market cap of $7.32 billion, a PE ratio of -7.36 and a beta of 1.24. The company’s 50 day moving average is $53.74 and its two-hundred day moving average is $52.69.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on PCVX. BTIG Research raised their price objective 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 downgraded shares of Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Jefferies Financial Group restated a “buy” rating on shares of Vaxcyte in a research note on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a report on Wednesday, April 8th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $86.00.

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.