Corebridge Financial Inc. Reduces Stock Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Corebridge Financial Inc. decreased its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,736 shares of the company’s stock after selling 2,114 shares during the quarter. Corebridge Financial Inc.’s holdings in Vaxcyte were worth $5,054,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC acquired a new stake in shares of Vaxcyte in the 4th quarter worth $28,000. Smartleaf Asset Management LLC grew its holdings in shares of Vaxcyte by 188.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 260 shares during the period. Blue Trust Inc. increased its position in Vaxcyte by 100.0% during the fourth quarter. Blue Trust Inc. now owns 742 shares of the company’s stock worth $61,000 after purchasing an additional 371 shares during the last quarter. Assetmark Inc. increased its position in Vaxcyte by 77,500.0% during the fourth quarter. Assetmark Inc. now owns 776 shares of the company’s stock worth $64,000 after purchasing an additional 775 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new position in Vaxcyte during the third quarter worth about $92,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

Vaxcyte Trading Down 1.9 %

Shares of NASDAQ PCVX opened at $69.46 on Friday. The stock has a market capitalization of $8.94 billion, a PE ratio of -15.10 and a beta of 1.02. Vaxcyte, Inc. has a twelve month low of $58.10 and a twelve month high of $121.06. The stock has a fifty day simple moving average of $80.07 and a 200-day simple moving average of $92.52.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.14. On average, equities analysts predict that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Insider Activity at Vaxcyte

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $86.51, for a total value of $692,080.00. Following the completion of the transaction, the chief financial officer now owns 109,491 shares in the company, valued at $9,472,066.41. The trade was a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Teri Loxam sold 6,250 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total value of $531,937.50. Following the completion of the sale, the director now owns 7,175 shares in the company, valued at approximately $610,664.25. The trade was a 46.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,250 shares of company stock worth $3,840,018. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCVX. Guggenheim reissued a “buy” rating and issued a $160.00 price target on shares of Vaxcyte in a research note on Wednesday, March 12th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group began coverage on Vaxcyte in a research report on Friday, December 20th. They issued a “buy” rating and a $135.00 target price on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $147.50.

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.