Elmind Capital LP Has $18.39 Million Stock Position in Vaxcyte, Inc. $PCVX

Elmind Capital LP grew its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 8.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 316,500 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Vaxcyte makes up approximately 5.2% of Elmind Capital LP’s investment portfolio, making the stock its 8th largest position. Elmind Capital LP’s holdings in Vaxcyte were worth $18,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PCVX. Royal Bank of Canada increased its position in shares of Vaxcyte by 115.2% during the first quarter. Royal Bank of Canada now owns 29,471 shares of the company’s stock worth $1,113,000 after acquiring an additional 15,774 shares during the period. Cubist Systematic Strategies LLC bought a new position in Vaxcyte in the first quarter worth approximately $219,000. Caxton Associates LLP purchased a new position in Vaxcyte during the 1st quarter worth $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Vaxcyte by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 513,998 shares of the company’s stock worth $19,409,000 after purchasing an additional 41,034 shares during the period. Finally, Cetera Investment Advisers raised its position in Vaxcyte by 13.8% during the 2nd quarter. Cetera Investment Advisers now owns 7,681 shares of the company’s stock valued at $250,000 after purchasing an additional 932 shares in the last quarter. 96.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PCVX shares. Wall Street Zen cut Vaxcyte from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 28th. Zacks Research lowered Vaxcyte from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $86.00.

Insider Activity

In other news, CEO Grant Pickering sold 22,461 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $52.50, for a total value of $1,179,202.50. Following the completion of the transaction, the chief executive officer directly owned 474,703 shares of the company’s stock, valued at approximately $24,921,907.50. The trade was a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $49.52, for a total value of $111,420.00. Following the sale, the chief operating officer owned 158,494 shares of the company’s stock, valued at $7,848,622.88. This trade represents 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. In the last three months, insiders have sold 75,448 shares of company stock worth $4,091,197. 3.30% of the stock is currently owned by company insiders.

Vaxcyte Stock Up 1.5%

Shares of PCVX stock opened at $55.50 on Tuesday. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of -8.07 and a beta of 1.22. Vaxcyte, Inc. has a 52-week low of $29.08 and a 52-week high of $65.00. The company’s 50 day moving average is $52.71 and its 200 day moving average is $54.71.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Wednesday, May 6th. The company reported ($2.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.74) by ($0.56). During the same period in the prior year, the firm posted ($1.04) earnings per share. Analysts anticipate that Vaxcyte, Inc. will post -7.91 EPS for the current fiscal year.

About Vaxcyte

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.