Glenmede Trust Co. NA Reduces Stock Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Glenmede Trust Co. NA trimmed its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 42.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,967 shares of the company’s stock after selling 5,052 shares during the period. Glenmede Trust Co. NA’s holdings in Vaxcyte were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Vaxcyte by 47.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,837 shares of the company’s stock worth $148,075,000 after purchasing an additional 419,600 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of Vaxcyte by 93.7% in the 2nd quarter. Maverick Capital Ltd. now owns 687,908 shares of the company’s stock valued at $51,944,000 after buying an additional 332,777 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Vaxcyte by 625.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 343,552 shares of the company’s stock valued at $25,942,000 after buying an additional 296,164 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Vaxcyte in the 3rd quarter valued at $30,752,000. Finally, Clearbridge Investments LLC acquired a new stake in Vaxcyte during the 2nd quarter worth $14,056,000. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Price Performance

NASDAQ:PCVX opened at $90.37 on Wednesday. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of -19.65 and a beta of 0.94. The firm’s fifty day moving average price is $104.69 and its 200 day moving average price is $90.71. Vaxcyte, Inc. has a 1-year low of $52.74 and a 1-year high of $121.06.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27. During the same quarter last year, the business earned ($0.91) EPS. As a group, analysts expect that Vaxcyte, Inc. will post -4.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on PCVX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Vaxcyte in a report on Wednesday, November 6th. BTIG Research lifted their price target on Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. Mizuho lifted their target price on shares of Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Bank of America increased their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $147.50.

Insider Transactions at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $92.45, for a total transaction of $1,386,750.00. Following the transaction, the chief executive officer now directly owns 450,301 shares in the company, valued at approximately $41,630,327.45. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mikhail Eydelman sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $109.27, for a total value of $546,350.00. Following the completion of the sale, the senior vice president now owns 28,623 shares in the company, valued at approximately $3,127,635.21. This represents a 14.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,464 shares of company stock valued at $11,924,596. Corporate insiders own 3.10% of the company’s stock.

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.