Braidwell LP Has $34 Million Stock Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Braidwell LP decreased its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 63.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,568 shares of the company’s stock after selling 510,735 shares during the period. Braidwell LP owned 0.24% of Vaxcyte worth $34,003,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Vaxcyte by 47.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,837 shares of the company’s stock valued at $148,075,000 after acquiring an additional 419,600 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of Vaxcyte by 93.7% in the 2nd quarter. Maverick Capital Ltd. now owns 687,908 shares of the company’s stock valued at $51,944,000 after buying an additional 332,777 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Vaxcyte by 625.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 343,552 shares of the company’s stock valued at $25,942,000 after buying an additional 296,164 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in Vaxcyte during the 3rd quarter valued at $30,752,000. Finally, Clearbridge Investments LLC bought a new position in Vaxcyte during the 2nd quarter worth $14,056,000. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Jim Wassil sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $111.93, for a total transaction of $1,119,300.00. Following the completion of the sale, the chief operating officer now directly owns 207,503 shares in the company, valued at $23,225,810.79. This represents a 4.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Grant Pickering sold 7,098 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $109.21, for a total value of $775,172.58. Following the completion of the sale, the chief executive officer now owns 138,581 shares of the company’s stock, valued at approximately $15,134,431.01. This trade represents a 4.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,464 shares of company stock worth $11,455,576. 3.10% of the stock is currently owned by insiders.

Vaxcyte Stock Up 2.8 %

Shares of NASDAQ PCVX opened at $93.98 on Friday. The firm has a market capitalization of $11.71 billion, a P/E ratio of -20.43 and a beta of 1.01. The stock’s 50-day simple moving average is $106.02 and its two-hundred day simple moving average is $90.00. Vaxcyte, Inc. has a twelve month low of $48.81 and a twelve month high of $121.06.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.27. During the same period in the prior year, the business earned ($0.91) EPS. As a group, research analysts anticipate that Vaxcyte, Inc. will post -4.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on PCVX shares. BTIG Research lifted their target price on Vaxcyte from $98.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Leerink Partners boosted their price objective on Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Bank of America boosted 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. Jefferies Financial Group upped their price target on Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $147.50.

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.