Vaxcyte, Inc. (NASDAQ:PCVX) Stock Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in Vaxcyte, Inc. (NASDAQ:PCVX) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 418,014 shares of the company’s stock after selling 3,924 shares during the quarter. Bank of New York Mellon Corp owned about 0.32% of Vaxcyte worth $15,784,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PCVX. Vanguard Group Inc. increased its stake in Vaxcyte by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company’s stock valued at $979,184,000 after buying an additional 521,204 shares during the period. Capital Research Global Investors grew its stake in shares of Vaxcyte by 26.8% in the 4th quarter. Capital Research Global Investors now owns 6,210,523 shares of the company’s stock worth $508,393,000 after purchasing an additional 1,312,302 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Vaxcyte by 3.0% in the 4th quarter. Franklin Resources Inc. now owns 2,869,332 shares of the company’s stock worth $234,884,000 after purchasing an additional 82,997 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Vaxcyte by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 2,802,888 shares of the company’s stock worth $229,495,000 after purchasing an additional 102,106 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Vaxcyte by 8.1% in the 4th quarter. Alliancebernstein L.P. now owns 1,779,362 shares of the company’s stock worth $145,659,000 after purchasing an additional 133,448 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors.

Vaxcyte Trading Down 3.1%

Shares of PCVX stock opened at $36.21 on Friday. Vaxcyte, Inc. has a 1 year low of $27.66 and a 1 year high of $121.06. The firm’s fifty day simple moving average is $33.84 and its 200 day simple moving average is $53.65. The firm has a market capitalization of $4.67 billion, a P/E ratio of -9.08 and a beta of 1.19.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly 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 quarter in the previous year, the company earned ($0.85) EPS. Equities research analysts anticipate that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PCVX. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Vaxcyte in a research note on Tuesday, April 8th. Evercore ISI raised shares of Vaxcyte to a “strong-buy” rating in a research report on Monday, March 31st. Cantor Fitzgerald started coverage on shares of Vaxcyte in a research report on Tuesday, April 22nd. They issued an “overweight” rating on the stock. Bank of America dropped their target price on shares of Vaxcyte from $157.00 to $137.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Finally, The Goldman Sachs Group dropped their target price on shares of Vaxcyte from $138.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $136.50.

Vaxcyte Profile

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.