Vaxcyte, Inc. $PCVX Stock Position Trimmed by Comerica Bank

Comerica Bank cut its position in Vaxcyte, Inc. (NASDAQ:PCVX) by 99.8% during the 4th quarter, HoldingsChannel reports. The firm owned 1,103 shares of the company’s stock after selling 653,266 shares during the quarter. Comerica Bank’s holdings in Vaxcyte were worth $51,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PCVX. Royal Bank of Canada lifted its position in Vaxcyte by 115.2% in the 1st quarter. Royal Bank of Canada now owns 29,471 shares of the company’s stock valued at $1,113,000 after purchasing an additional 15,774 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Vaxcyte during the 1st quarter valued at about $219,000. Caxton Associates LLP acquired a new position in Vaxcyte during the 1st quarter valued at about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Vaxcyte by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 513,998 shares of the company’s stock valued at $19,409,000 after buying an additional 41,034 shares during the period. Finally, Cetera Investment Advisers increased its stake in Vaxcyte by 13.8% during the 2nd quarter. Cetera Investment Advisers now owns 7,681 shares of the company’s stock valued at $250,000 after buying an additional 932 shares during the period. 96.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Vaxcyte in a research note on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Wednesday, April 8th. Guggenheim reissued a “buy” rating and set a $116.00 target price on shares of Vaxcyte in a research note on Monday, February 2nd. BTIG Research raised their target price on shares of Vaxcyte from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Wall Street Zen cut shares of Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Vaxcyte Stock Performance

Vaxcyte stock opened at $52.39 on Monday. The company’s 50-day moving average price is $57.50 and its two-hundred day moving average price is $52.29. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of -7.61 and a beta of 1.30. Vaxcyte, Inc. has a 52 week low of $29.08 and a 52 week high of $65.00.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data 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 prior year, the business earned ($1.04) EPS. Research analysts expect that Vaxcyte, Inc. will post -7.85 earnings per share for the current fiscal year.

Insider Activity at Vaxcyte

In other news, CAO Elvia Cowan sold 3,000 shares of Vaxcyte stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the transaction, the chief accounting officer owned 28,975 shares of the company’s stock, valued at $1,738,500. The trade was a 9.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 7,395 shares of Vaxcyte stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $58.88, for a total transaction of $435,417.60. Following the completion of the transaction, the chief operating officer directly owned 166,818 shares in the company, valued at $9,822,243.84. This represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,037 shares of company stock worth $994,899 in the last ninety days. Corporate insiders own 3.10% 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.