California Public Employees Retirement System Sells 7,045 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

California Public Employees Retirement System decreased its position in Vaxcyte, Inc. (NASDAQ:PCVX) by 3.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 188,041 shares of the company’s stock after selling 7,045 shares during the period. California Public Employees Retirement System owned about 0.15% of Vaxcyte worth $15,393,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PCVX. Vanguard Group Inc. lifted its holdings in Vaxcyte by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company’s stock worth $979,184,000 after buying an additional 521,204 shares during the period. State Street Corp lifted its position in Vaxcyte by 1.1% during the third quarter. State Street Corp now owns 3,405,743 shares of the company’s stock valued at $389,174,000 after buying an additional 38,596 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Vaxcyte by 13.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,786,335 shares of the company’s stock valued at $315,162,000 after buying an additional 324,560 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Vaxcyte by 10.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,700,782 shares of the company’s stock worth $308,675,000 after buying an additional 259,010 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Vaxcyte by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,341,773 shares of the company’s stock worth $109,838,000 after acquiring an additional 45,936 shares in the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Jim Wassil sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 154,931 shares of the company’s stock, valued at $11,351,794.37. This represents a 4.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Teri Loxam sold 6,250 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total transaction of $531,937.50. Following the sale, the director now owns 7,175 shares of the company’s stock, valued at $610,664.25. This trade represents a 46.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,250 shares of company stock valued at $3,170,738 in the last ninety days. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PCVX. Needham & Company LLC cut their price objective on shares of Vaxcyte from $140.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday. Guggenheim reaffirmed a “buy” rating and set a $160.00 price objective on shares of Vaxcyte in a research report on Wednesday, March 12th. Evercore ISI raised Vaxcyte to a “strong-buy” rating in a report on Monday, March 31st. Bank of America cut their target price on Vaxcyte from $157.00 to $137.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group dropped their price target on shares of Vaxcyte from $138.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Vaxcyte currently has an average rating of “Buy” and an average target price of $136.50.

Vaxcyte Stock Performance

NASDAQ PCVX opened at $31.60 on Friday. Vaxcyte, Inc. has a one year low of $29.57 and a one year high of $121.06. The stock has a 50-day moving average of $74.59 and a 200 day moving average of $89.85. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -6.87 and a beta of 1.26.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.14. On average, equities analysts predict that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

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.