Seven Eight Capital LP Purchases New Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Seven Eight Capital LP acquired a new position in Vaxcyte, Inc. (NASDAQ:PCVX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 41,100 shares of the company’s stock, valued at approximately $3,103,000.

Several other institutional investors and hedge funds have also bought and sold shares of PCVX. Hsbc Holdings PLC bought a new position in Vaxcyte in the second quarter worth $1,053,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Vaxcyte by 22.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,850 shares of the company’s stock worth $366,000 after acquiring an additional 895 shares in the last quarter. Amalgamated Bank lifted its position in Vaxcyte by 4.2% during the 2nd quarter. Amalgamated Bank now owns 3,759 shares of the company’s stock valued at $284,000 after acquiring an additional 150 shares during the period. Mutual of America Capital Management LLC boosted its stake in Vaxcyte by 13.7% during the second quarter. Mutual of America Capital Management LLC now owns 50,813 shares of the company’s stock worth $3,837,000 after acquiring an additional 6,114 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Vaxcyte by 12.3% in the second quarter. Envestnet Asset Management Inc. now owns 47,961 shares of the company’s stock worth $3,622,000 after purchasing an additional 5,268 shares during the period. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Mikhail Eydelman sold 1,667 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $76.37, for a total value of $127,308.79. Following the sale, the senior vice president now owns 30,826 shares in the company, valued at $2,354,181.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vaxcyte news, SVP Mikhail Eydelman sold 1,667 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $76.37, for a total transaction of $127,308.79. Following the completion of the sale, the senior vice president now directly owns 30,826 shares in the company, valued at approximately $2,354,181.62. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Grant Pickering sold 2,616 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $76.33, for a total value of $199,679.28. Following the completion of the transaction, the chief executive officer now owns 143,438 shares in the company, valued at $10,948,622.54. The disclosure for this sale can be found here. Insiders sold 85,283 shares of company stock valued at $7,271,218 over the last three months. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Mizuho lifted their target price on shares of Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. BTIG Research boosted their target price on Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Bank of America raised their price target on Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Needham & Company LLC upped their price target on shares of Vaxcyte from $95.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Leerink Partners increased their price objective on shares of Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $147.50.

Vaxcyte Price Performance

Shares of NASDAQ:PCVX opened at $116.75 on Wednesday. Vaxcyte, Inc. has a 1 year low of $44.20 and a 1 year high of $119.50. The company has a market cap of $13.03 billion, a P/E ratio of -27.28 and a beta of 0.97. The stock’s fifty day moving average price is $87.05 and its 200-day moving average price is $75.47.

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

Vaxcyte Profile

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.