Citigroup Inc. Sells 116,206 Shares of Vaxcyte, Inc. $PCVX

Citigroup Inc. reduced its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 27.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 313,078 shares of the company’s stock after selling 116,206 shares during the period. Citigroup Inc. owned approximately 0.24% of Vaxcyte worth $11,277,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Vaxcyte by 197.3% in the 2nd quarter. CWM LLC now owns 1,680 shares of the company’s stock worth $55,000 after purchasing an additional 1,115 shares in the last quarter. Virtus Investment Advisers LLC boosted its stake in Vaxcyte by 45.8% in the second quarter. Virtus Investment Advisers LLC now owns 2,729 shares of the company’s stock worth $89,000 after buying an additional 857 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Vaxcyte by 96.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,254 shares of the company’s stock valued at $117,000 after acquiring an additional 1,596 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Vaxcyte by 110.8% during the second quarter. Osaic Holdings Inc. now owns 3,859 shares of the company’s stock worth $128,000 after acquiring an additional 2,028 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Vaxcyte by 401.6% in the 2nd quarter. AlphaQuest LLC now owns 4,429 shares of the company’s stock worth $144,000 after acquiring an additional 3,546 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Price Performance

PCVX opened at $61.74 on Friday. Vaxcyte, Inc. has a one year low of $27.66 and a one year high of $76.61. The business has a 50 day simple moving average of $51.75 and a two-hundred day simple moving average of $44.02. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of -10.99 and a beta of 1.33.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.34). During the same period in the previous year, the company posted ($1.12) earnings per share. As a group, sell-side analysts expect that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

Insider Activity at Vaxcyte

In other news, SVP Elvia Cowan sold 11,623 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $47.92, for a total transaction of $556,974.16. Following the sale, the senior vice president owned 14,534 shares in the company, valued at $696,469.28. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Harpreet S. Dhaliwal sold 9,743 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $46.69, for a total transaction of $454,900.67. Following the completion of the sale, the insider owned 23,928 shares in the company, valued at $1,117,198.32. This represents a 28.94% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PCVX. Guggenheim reiterated a “buy” rating and issued a $116.00 target price on shares of Vaxcyte in a research report on Monday, February 2nd. Leerink Partners set a $77.00 price objective on Vaxcyte and gave the stock an “outperform” rating in a report on Wednesday, November 19th. BTIG Research increased their target price on Vaxcyte from $85.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a research report on Friday, January 9th. Finally, Needham & Company LLC boosted their price objective on Vaxcyte from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.50.

Vaxcyte 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.