Truist Financial Corp Lowers Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Truist Financial Corp trimmed its stake in Vaxcyte, Inc. (NASDAQ:PCVX) by 9.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,220 shares of the company’s stock after selling 674 shares during the quarter. Truist Financial Corp’s holdings in Vaxcyte were worth $470,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Novo Holdings A S grew its stake in Vaxcyte by 12.4% during the second quarter. Novo Holdings A S now owns 950,000 shares of the company’s stock worth $71,734,000 after buying an additional 105,000 shares during the period. Creative Planning raised its holdings in Vaxcyte by 64.0% in the second quarter. Creative Planning now owns 27,280 shares of the company’s stock valued at $2,060,000 after acquiring an additional 10,642 shares in the last quarter. Algert Global LLC raised its holdings in shares of Vaxcyte by 161.1% during the second quarter. Algert Global LLC now owns 34,752 shares of the company’s stock worth $2,624,000 after purchasing an additional 21,442 shares during the period. Driehaus Capital Management LLC raised its holdings in shares of Vaxcyte by 3.6% during the second quarter. Driehaus Capital Management LLC now owns 1,934,747 shares of the company’s stock worth $146,093,000 after purchasing an additional 66,940 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Vaxcyte by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 131,749 shares of the company’s stock worth $9,948,000 after purchasing an additional 12,667 shares during the period. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCVX has been the subject of several recent research reports. Leerink Partners upped their price target on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group upped their price target on shares of Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Bank of America upped their price objective on shares of Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a research note on Thursday, June 20th. Finally, Mizuho increased their price target on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vaxcyte has a consensus rating of “Buy” and an average target price of $147.50.

Insider Buying and Selling

In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of Vaxcyte stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the completion of the transaction, the chief executive officer now directly owns 478,888 shares of the company’s stock, valued at approximately $37,822,574.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Vaxcyte news, SVP Elvia Cowan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $107.67, for a total transaction of $538,350.00. Following the completion of the sale, the senior vice president now directly owns 12,723 shares of the company’s stock, valued at approximately $1,369,885.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Grant Pickering sold 15,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $78.98, for a total value of $1,184,700.00. Following the sale, the chief executive officer now directly owns 478,888 shares of the company’s stock, valued at $37,822,574.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,098 shares of company stock valued at $6,355,293 over the last ninety days. 3.10% of the stock is owned by company insiders.

Vaxcyte Stock Up 2.1 %

Shares of PCVX stock opened at $117.93 on Thursday. Vaxcyte, Inc. has a 12 month low of $45.00 and a 12 month high of $121.06. The business’s 50 day moving average is $100.98 and its two-hundred day moving average is $81.90. The company has a market cap of $12.83 billion, a PE ratio of -27.55 and a beta of 0.99.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.04. During the same quarter last year, the company posted ($0.70) earnings per share. As a group, equities analysts expect that Vaxcyte, Inc. will post -4.33 EPS 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.