First Turn Management LLC Decreases Position in Vaxcyte, Inc. (NASDAQ:PCVX)

First Turn Management LLC lessened its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 18.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 211,985 shares of the company’s stock after selling 48,296 shares during the quarter. Vaxcyte comprises 3.8% of First Turn Management LLC’s portfolio, making the stock its 5th biggest holding. First Turn Management LLC’s holdings in Vaxcyte were worth $24,224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Riverview Trust Co bought a new stake in Vaxcyte in the 3rd quarter worth approximately $27,000. Blue Trust Inc. lifted its holdings in shares of Vaxcyte by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company’s stock worth $42,000 after buying an additional 93 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Vaxcyte in the 2nd quarter worth $35,000. J.Safra Asset Management Corp raised its position in shares of Vaxcyte by 649.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 607 shares of the company’s stock worth $46,000 after acquiring an additional 526 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Vaxcyte in the 2nd quarter worth $70,000. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Stock Performance

Shares of PCVX opened at $86.49 on Tuesday. The company has a 50-day moving average of $110.09 and a two-hundred day moving average of $88.98. Vaxcyte, Inc. has a 12-month low of $48.24 and a 12-month high of $121.06.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.27. During the same quarter last year, the business posted ($0.91) EPS. On average, equities research analysts expect that Vaxcyte, Inc. will post -4.14 earnings per share for the current year.

Insider Activity

In related news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the transaction, the chief executive officer now directly owns 478,888 shares of the company’s stock, valued at approximately $37,822,574.24. The trade was a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Guggenhime sold 8,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $115.94, for a total value of $927,520.00. Following the completion of the transaction, the chief financial officer now directly owns 90,383 shares in the company, valued at approximately $10,479,005.02. The trade was a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,464 shares of company stock worth $12,640,276. 3.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PCVX. Leerink Partners increased their price target on Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Mizuho raised their target price on Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group raised their price objective on Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Bank of America raised their price objective on Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Vaxcyte in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $147.50.

About Vaxcyte

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.