Allspring Global Investments Holdings LLC Lowers Stock Position in Vaxcyte, Inc. $PCVX

Allspring Global Investments Holdings LLC cut its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 97.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,425 shares of the company’s stock after selling 327,565 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Vaxcyte were worth $278,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AlphaQuest LLC purchased a new position in Vaxcyte during the first quarter worth about $33,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Vaxcyte in the first quarter valued at $35,000. IFP Advisors Inc grew its position in Vaxcyte by 376.4% in the 1st quarter. IFP Advisors Inc now owns 1,653 shares of the company’s stock valued at $62,000 after buying an additional 1,306 shares during the last quarter. CWM LLC grew its position in Vaxcyte by 197.3% in the 2nd quarter. CWM LLC now owns 1,680 shares of the company’s stock valued at $55,000 after buying an additional 1,115 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Vaxcyte by 81.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,929 shares of the company’s stock valued at $73,000 after buying an additional 867 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Cowen restated a “buy” rating on shares of Vaxcyte in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Vaxcyte in a research note on Friday, September 12th. They set a “neutral” rating and a $38.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.25.

Vaxcyte Price Performance

Shares of NASDAQ PCVX opened at $42.23 on Friday. The firm has a market capitalization of $5.48 billion, a PE ratio of -10.27 and a beta of 1.12. Vaxcyte, Inc. has a 1-year low of $27.66 and a 1-year high of $116.00. The business’s fifty day moving average price is $35.73 and its two-hundred day moving average price is $34.11.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.10). During the same quarter in the prior year, the business earned ($1.10) earnings per share. Equities research analysts expect that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

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.