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

Corebridge Financial Inc. lowered its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm 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.

Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc raised its stake in shares of Vaxcyte by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 3,307 shares of the company’s stock worth $271,000 after purchasing an additional 171 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Vaxcyte by 188.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 398 shares of the company’s stock worth $33,000 after buying an additional 260 shares during the last quarter. Catalyst Funds Management Pty Ltd boosted its holdings in shares of Vaxcyte by 1.7% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 18,400 shares of the company’s stock valued at $1,506,000 after acquiring an additional 300 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Vaxcyte in the fourth quarter worth $28,000. Finally, Blue Trust Inc. raised its holdings in shares of 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. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Insider Buying and Selling

In other news, Director Teri Loxam sold 6,250 shares of Vaxcyte stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total value of $531,937.50. Following the sale, the director now directly owns 7,175 shares of the company’s stock, valued at $610,664.25. The trade was a 46.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jim Wassil sold 8,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $73.27, for a total value of $586,160.00. Following the completion of the transaction, the chief operating officer now directly owns 154,931 shares of the company’s stock, valued at approximately $11,351,794.37. This represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,250 shares of company stock worth $3,840,018 in the last 90 days. Insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group began coverage on Vaxcyte in a research report on Friday, December 20th. They set a “buy” rating and a $135.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Vaxcyte in a report on Wednesday, February 26th. Finally, Guggenheim reissued a “buy” rating and issued a $160.00 price target on shares of Vaxcyte in a report on Wednesday, March 12th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vaxcyte has a consensus rating of “Buy” and a consensus target price of $147.50.

Vaxcyte Price Performance

Vaxcyte stock 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. The business has a 50 day simple moving average of $80.07 and a 200-day simple moving average of $92.52. Vaxcyte, Inc. has a 12 month low of $58.10 and a 12 month high of $121.06.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, topping the consensus estimate of ($1.16) by $0.14. On average, equities research analysts anticipate that Vaxcyte, Inc. will post -4.21 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.