Westfield Capital Management Co. LP Sells 192,998 Shares of Vaxcyte, Inc. $PCVX

Westfield Capital Management Co. LP reduced its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,539,717 shares of the company’s stock after selling 192,998 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Vaxcyte were worth $163,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Daiwa Securities Group Inc. grew its stake in shares of Vaxcyte by 3.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 10,083 shares of the company’s stock valued at $465,000 after buying an additional 369 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Vaxcyte during the fourth quarter valued at about $208,000. Norges Bank bought a new position in shares of Vaxcyte during the fourth quarter valued at about $56,703,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Vaxcyte during the fourth quarter valued at about $63,000. Finally, Clearstead Advisors LLC grew its stake in shares of Vaxcyte by 222.8% during the fourth quarter. Clearstead Advisors LLC now owns 3,635 shares of the company’s stock valued at $168,000 after buying an additional 2,509 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

Vaxcyte Price Performance

NASDAQ PCVX opened at $48.76 on Friday. The stock has a market capitalization of $7.04 billion, a PE ratio of -7.09 and a beta of 1.24. Vaxcyte, Inc. has a 1 year low of $29.08 and a 1 year high of $65.00. The business’s 50-day moving average is $55.38 and its 200 day moving average is $52.76.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Wednesday, May 6th. The company reported ($2.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same period in the prior year, the company earned ($1.04) earnings per share. As a group, equities research analysts anticipate that Vaxcyte, Inc. will post -7.85 earnings per share for the current year.

Insider Activity

In other Vaxcyte news, CAO Elvia Cowan sold 3,000 shares of Vaxcyte stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the sale, the chief accounting officer directly owned 28,975 shares of the company’s stock, valued at approximately $1,738,500. The trade was a 9.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jim Wassil sold 2,250 shares of Vaxcyte stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $49.52, for a total value of $111,420.00. Following the sale, the chief operating officer directly owned 158,494 shares in the company, valued at approximately $7,848,622.88. The trade was a 1.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,287 shares of company stock valued at $1,106,319 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on PCVX. BTIG Research raised their target price on Vaxcyte from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Jefferies Financial Group reissued a “buy” rating on shares of Vaxcyte in a research note on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Wednesday, April 8th. Finally, Wall Street Zen cut Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.00.

Vaxcyte Profile

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company’s platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte’s lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.