Banque Pictet & Cie SA Sells 5,457 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

Banque Pictet & Cie SA reduced its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 59,315 shares of the company’s stock after selling 5,457 shares during the period. Banque Pictet & Cie SA’s holdings in Vaxcyte were worth $4,856,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Vaxcyte by 70.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 593,523 shares of the company’s stock worth $49,418,000 after purchasing an additional 246,049 shares during the last quarter. abrdn plc lifted its stake in Vaxcyte by 171.4% in the fourth quarter. abrdn plc now owns 224,824 shares of the company’s stock worth $18,404,000 after purchasing an additional 141,994 shares during the last quarter. Jennison Associates LLC lifted its stake in Vaxcyte by 0.7% in the fourth quarter. Jennison Associates LLC now owns 1,246,551 shares of the company’s stock worth $102,043,000 after purchasing an additional 9,121 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Vaxcyte by 23.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,428 shares of the company’s stock worth $2,163,000 after purchasing an additional 4,962 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in Vaxcyte by 9.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,431 shares of the company’s stock worth $440,000 after purchasing an additional 458 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of Vaxcyte in a research note on Friday, December 20th. They issued a “buy” rating and a $135.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a research report on Wednesday, November 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Vaxcyte in a research report on Tuesday. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $127.71.

Vaxcyte Price Performance

Shares of NASDAQ PCVX opened at $84.00 on Friday. Vaxcyte, Inc. has a 1 year low of $58.10 and a 1 year high of $121.06. The company’s 50-day moving average is $86.54 and its 200 day moving average is $94.43. The stock has a market capitalization of $10.47 billion, a P/E ratio of -18.26 and a beta of 0.98.

Insider Activity at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $92.45, for a total value of $1,386,750.00. Following the sale, the chief executive officer now owns 450,301 shares in the company, valued at approximately $41,630,327.45. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jim Wassil sold 8,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $92.49, for a total transaction of $739,920.00. Following the completion of the sale, the chief operating officer now owns 205,695 shares in the company, valued at approximately $19,024,730.55. This trade represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,616 shares of company stock worth $6,095,681 over the last 90 days. 3.10% of the stock is owned by company insiders.

Vaxcyte Company 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.