Readystate Asset Management LP Buys 120,000 Shares of Vaxcyte, Inc. $PCVX

Readystate Asset Management LP increased its stake in Vaxcyte, Inc. (NASDAQ:PCVX) by 332.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,090 shares of the company’s stock after buying an additional 120,000 shares during the period. Readystate Asset Management LP’s holdings in Vaxcyte were worth $9,074,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in Vaxcyte by 156.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the company’s stock worth $27,000 after acquiring an additional 364 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake 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 valued at $30,000 after acquiring an additional 600 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Vaxcyte by 33.0% in 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 during the period. CIBC Private Wealth Group LLC grew its stake in Vaxcyte by 22,500.0% in the third quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company’s stock worth $49,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Capital Advisors Ltd. LLC bought a new position in Vaxcyte in the first quarter worth approximately $58,000. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Price Performance

Shares of PCVX opened at $61.16 on Monday. The company has a 50 day moving average of $58.22 and a two-hundred day moving average of $56.22. Vaxcyte, Inc. has a twelve month low of $30.81 and a twelve month high of $65.00. The company has a market cap of $9.10 billion, a price-to-earnings ratio of -8.02 and a beta of 1.22.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, beating the consensus estimate of ($2.06) by $0.09. During the same period in the previous year, the business posted ($1.22) EPS. On average, sell-side analysts expect that Vaxcyte, Inc. will post -7.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PCVX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a research report on Monday, July 6th. Zacks Research upgraded Vaxcyte from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Insiders Place Their Bets

In other Vaxcyte news, CEO Grant Pickering sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $55.65, for a total transaction of $111,300.00. Following the transaction, the chief executive officer owned 133,215 shares in the company, valued at approximately $7,413,414.75. This represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 3,477 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $61.07, for a total transaction of $212,340.39. Following the completion of the transaction, the chief operating officer directly owned 155,041 shares of the company’s stock, valued at approximately $9,468,353.87. This represents a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 121,873 shares of company stock worth $6,671,730 over the last ninety days. Insiders own 3.30% 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.