abrdn plc Makes New Investment in Vaxcyte, Inc. (NASDAQ:PCVX)

abrdn plc acquired a new position in Vaxcyte, Inc. (NASDAQ:PCVX) in the 4th quarter, Holdings Channel reports. The firm acquired 194,232 shares of the company’s stock, valued at approximately $12,198,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Vaxcyte by 0.6% in the third quarter. Vanguard Group Inc. now owns 8,284,246 shares of the company’s stock worth $422,331,000 after buying an additional 47,872 shares during the period. Wellington Management Group LLP lifted its holdings in Vaxcyte by 3.8% in the third quarter. Wellington Management Group LLP now owns 4,598,712 shares of the company’s stock worth $234,442,000 after buying an additional 167,501 shares during the period. Jennison Associates LLC lifted its holdings in Vaxcyte by 20.6% in the third quarter. Jennison Associates LLC now owns 1,754,691 shares of the company’s stock worth $89,454,000 after buying an additional 300,189 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Vaxcyte in the third quarter worth about $51,180,000. Finally, Northern Trust Corp lifted its holdings in Vaxcyte by 4.1% in the third quarter. Northern Trust Corp now owns 896,635 shares of the company’s stock worth $45,710,000 after buying an additional 35,694 shares during the period. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of Vaxcyte stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $61.92, for a total value of $928,800.00. Following the completion of the sale, the chief executive officer now owns 477,847 shares of the company’s stock, valued at approximately $29,588,286.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Grant Pickering sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $61.92, for a total transaction of $928,800.00. Following the completion of the sale, the chief executive officer now owns 477,847 shares of the company’s stock, valued at approximately $29,588,286.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Elvia Cowan sold 11,678 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $74.08, for a total transaction of $865,106.24. Following the sale, the senior vice president now directly owns 12,480 shares of the company’s stock, valued at approximately $924,518.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,577 shares of company stock valued at $7,400,635. Company insiders own 3.60% of the company’s stock.

Vaxcyte Stock Down 0.4 %

NASDAQ:PCVX opened at $60.06 on Friday. Vaxcyte, Inc. has a 12 month low of $41.57 and a 12 month high of $82.04. The company has a 50 day simple moving average of $68.25 and a two-hundred day simple moving average of $61.27.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Tuesday, February 27th. The company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.93). During the same period last year, the company earned ($0.73) EPS. As a group, equities analysts forecast that Vaxcyte, Inc. will post -4.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PCVX shares. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Vaxcyte in a report on Wednesday, April 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vaxcyte in a report on Friday, January 12th. Finally, Bank of America lifted their target price on shares of Vaxcyte from $67.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $78.50.

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.