Bank Pictet & Cie Europe AG Cuts Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Bank Pictet & Cie Europe AG lessened its holdings in Vaxcyte, Inc. (NASDAQ:PCVX) by 11.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,363 shares of the company’s stock after selling 442 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Vaxcyte were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Vaxcyte by 33.5% in the third quarter. Blue Trust Inc. now owns 371 shares of the company’s stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Vaxcyte by 5.2% in the third quarter. Nisa Investment Advisors LLC now owns 2,209 shares of the company’s stock valued at $252,000 after purchasing an additional 110 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Vaxcyte by 3.6% in the third quarter. CIBC Asset Management Inc now owns 3,136 shares of the company’s stock valued at $358,000 after purchasing an additional 110 shares during the last quarter. Riverview Trust Co purchased a new position in Vaxcyte in the third quarter valued at approximately $27,000. Finally, Amalgamated Bank lifted its stake in Vaxcyte by 8.6% in the third quarter. Amalgamated Bank now owns 4,081 shares of the company’s stock valued at $466,000 after purchasing an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Price Performance

PCVX stock opened at $84.00 on Friday. Vaxcyte, Inc. has a 1 year low of $58.10 and a 1 year high of $121.06. The company has a market cap of $10.47 billion, a P/E ratio of -18.26 and a beta of 0.98. The firm has a 50-day moving average of $86.35 and a 200 day moving average of $94.54.

Insiders Place Their Bets

In other news, CEO Grant Pickering sold 2,366 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $92.25, for a total transaction of $218,263.50. Following the sale, the chief executive officer now owns 136,215 shares in the company, valued at $12,565,833.75. This represents a 1.71 % 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, SVP Mikhail Eydelman sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $91.49, for a total transaction of $457,450.00. Following the sale, the senior vice president now owns 28,697 shares in the company, valued at approximately $2,625,488.53. The trade was a 14.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,616 shares of company stock worth $6,095,681. 3.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Vaxcyte in a research report on Friday, December 20th. They set a “buy” rating and a $135.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a research report on Wednesday, November 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Vaxcyte in a research report on Tuesday, February 11th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $127.71.

About Vaxcyte

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.