Sandia Investment Management LP Decreases Stock Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

Sandia Investment Management LP decreased its position in Vaxcyte, Inc. (NASDAQ:PCVX) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,500 shares of the company’s stock after selling 2,500 shares during the quarter. Sandia Investment Management LP’s holdings in Vaxcyte were worth $205,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Vaxcyte by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company’s stock valued at $979,184,000 after acquiring an additional 521,204 shares during the period. Capital Research Global Investors increased its position in shares of Vaxcyte by 26.8% in the fourth quarter. Capital Research Global Investors now owns 6,210,523 shares of the company’s stock valued at $508,393,000 after acquiring an additional 1,312,302 shares during the period. Franklin Resources Inc. increased its position in shares of Vaxcyte by 3.0% in the fourth quarter. Franklin Resources Inc. now owns 2,869,332 shares of the company’s stock valued at $234,884,000 after acquiring an additional 82,997 shares during the period. Geode Capital Management LLC increased its position in shares of Vaxcyte by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 2,802,888 shares of the company’s stock valued at $229,495,000 after acquiring an additional 102,106 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Vaxcyte by 8.1% in the fourth quarter. Alliancebernstein L.P. now owns 1,779,362 shares of the company’s stock valued at $145,659,000 after acquiring an additional 133,448 shares during the period. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Stock Performance

Shares of Vaxcyte stock opened at $31.85 on Friday. The stock has a market capitalization of $4.11 billion, a PE ratio of -6.92 and a beta of 1.27. Vaxcyte, Inc. has a 52-week low of $27.66 and a 52-week high of $121.06. The company has a 50-day simple moving average of $42.56 and a two-hundred day simple moving average of $71.95.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Wednesday, May 14th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.02). During the same period last year, the firm earned ($0.85) EPS. As a group, equities research analysts forecast that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

Insider Activity

In other news, COO Jim Wassil sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $73.27, for a total transaction of $586,160.00. Following the completion of the transaction, the chief operating officer now directly owns 154,931 shares of the company’s stock, valued at $11,351,794.37. The trade was a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PCVX. Cantor Fitzgerald began coverage on shares of Vaxcyte in a research note on Tuesday, April 22nd. They set an “overweight” rating on the stock. Guggenheim reaffirmed a “buy” rating and set a $160.00 target price on shares of Vaxcyte in a research note on Wednesday, March 12th. The Goldman Sachs Group cut their target price on shares of Vaxcyte from $138.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Vaxcyte in a research note on Tuesday, April 8th. Finally, Evercore ISI raised shares of Vaxcyte to a “strong-buy” rating in a research note on Monday, March 31st. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Vaxcyte currently has an average rating of “Buy” and an average price target of $136.50.

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.