Maverick Capital Ltd. Has $80.06 Million Position in Vaxcyte, Inc. $PCVX

Maverick Capital Ltd. boosted its holdings in Vaxcyte, Inc. (NASDAQ:PCVX) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,377,738 shares of the company’s stock after acquiring an additional 23,501 shares during the period. Maverick Capital Ltd.’s holdings in Vaxcyte were worth $80,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PCVX. T. Rowe Price Investment Management Inc. boosted its position in Vaxcyte by 35.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company’s stock worth $521,213,000 after purchasing an additional 2,981,038 shares during the period. Caligan Partners LP acquired a new stake in shares of Vaxcyte during the 4th quarter worth about $78,660,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Vaxcyte by 418.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,725,000 shares of the company’s stock worth $79,592,000 after buying an additional 1,392,000 shares during the period. Polar Capital Holdings Plc boosted its holdings in shares of Vaxcyte by 302.6% during the 4th quarter. Polar Capital Holdings Plc now owns 1,672,783 shares of the company’s stock worth $77,182,000 after buying an additional 1,257,253 shares during the period. Finally, Norges Bank acquired a new position in Vaxcyte in the 4th quarter valued at about $56,703,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

Vaxcyte Price Performance

PCVX stock opened at $55.50 on Tuesday. Vaxcyte, Inc. has a fifty-two week low of $29.08 and a fifty-two week high of $65.00. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of -8.07 and a beta of 1.22. The business’s fifty day moving average price is $52.71 and its two-hundred day moving average price is $54.71.

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

Wall Street Analyst Weigh In

PCVX has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a report on Monday, July 6th. Wall Street Zen cut Vaxcyte from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 28th. Finally, Zacks Research downgraded Vaxcyte from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $86.00.

Insiders Place Their Bets

In other Vaxcyte news, COO Jim Wassil sold 2,250 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $56.33, for a total transaction of $126,742.50. Following the transaction, the chief operating officer owned 156,760 shares in the company, valued at $8,830,290.80. This represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Guggenhime sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $57.28, for a total transaction of $572,800.00. Following the transaction, the chief financial officer directly owned 104,395 shares in the company, valued at $5,979,745.60. This represents a 8.74% 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 75,448 shares of company stock worth $4,091,197 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.

Vaxcyte Company 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.