Seven Eight Capital LP Invests $3.10 Million in Vaxcyte, Inc. (NASDAQ:PCVX)

Seven Eight Capital LP purchased a new stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 41,100 shares of the company’s stock, valued at approximately $3,103,000.

Several other hedge funds have also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in Vaxcyte by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 22,008 shares of the company’s stock valued at $1,382,000 after buying an additional 376 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in Vaxcyte in the fourth quarter valued at $208,000. Norges Bank acquired a new position in shares of Vaxcyte during the fourth quarter valued at about $57,494,000. PNC Financial Services Group Inc. boosted its position in shares of Vaxcyte by 25.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,986 shares of the company’s stock worth $439,000 after purchasing an additional 1,411 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of Vaxcyte by 123.4% in the 4th quarter. UBS Group AG now owns 166,034 shares of the company’s stock valued at $10,427,000 after buying an additional 91,729 shares during the period. 96.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PCVX. Leerink Partners upped their price objective on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. BTIG Research boosted their price target on shares of Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Mizuho increased their price objective on shares of Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group boosted their target price on Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Needham & Company LLC upped their target price on Vaxcyte from $95.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $147.50.

Insider Buying and Selling at Vaxcyte

In related news, SVP Mikhail Eydelman sold 1,667 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $76.37, for a total value of $127,308.79. Following the completion of the sale, the senior vice president now owns 30,826 shares in the company, valued at approximately $2,354,181.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Mikhail Eydelman sold 1,667 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $76.37, for a total transaction of $127,308.79. Following the transaction, the senior vice president now owns 30,826 shares in the company, valued at approximately $2,354,181.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Grant Pickering sold 2,616 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $76.33, for a total value of $199,679.28. Following the transaction, the chief executive officer now directly owns 143,438 shares of the company’s stock, valued at approximately $10,948,622.54. The disclosure for this sale can be found here. Insiders have sold a total of 85,283 shares of company stock valued at $7,271,218 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Vaxcyte Price Performance

Shares of NASDAQ PCVX opened at $116.75 on Wednesday. The stock has a market capitalization of $13.03 billion, a PE ratio of -27.28 and a beta of 0.97. Vaxcyte, Inc. has a one year low of $44.20 and a one year high of $119.50. The business’s fifty day moving average price is $87.05 and its 200-day moving average price is $75.47.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Tuesday, August 6th. The company reported ($1.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.04. During the same quarter in the prior year, the business posted ($0.70) EPS. As a group, equities analysts expect that Vaxcyte, Inc. will post -4.33 EPS for the current fiscal year.

Vaxcyte Company 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.