Vanguard Group Inc. Increases Stock Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Vanguard Group Inc. grew its stake in Vaxcyte, Inc. (NASDAQ:PCVX) by 4.6% during the fourth quarter, HoldingsChannel reports. The fund owned 11,961,687 shares of the company’s stock after acquiring an additional 521,204 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Vaxcyte worth $979,184,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Bank of Montreal Can purchased a new stake in shares of Vaxcyte during the 3rd quarter valued at $3,104,000. The Manufacturers Life Insurance Company boosted its holdings in Vaxcyte by 19.2% in the third quarter. The Manufacturers Life Insurance Company now owns 157,024 shares of the company’s stock worth $17,943,000 after acquiring an additional 25,275 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Vaxcyte by 7.7% during the third quarter. MetLife Investment Management LLC now owns 67,833 shares of the company’s stock worth $7,751,000 after acquiring an additional 4,866 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Vaxcyte by 4.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,311 shares of the company’s stock worth $2,435,000 after acquiring an additional 826 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Vaxcyte by 38.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 408,274 shares of the company’s stock valued at $46,653,000 after acquiring an additional 112,512 shares in the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vaxcyte

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

Vaxcyte Stock Down 1.9 %

PCVX stock opened at $69.46 on Friday. Vaxcyte, Inc. has a 52 week low of $58.10 and a 52 week high of $121.06. The firm has a 50-day simple moving average of $80.07 and a 200-day simple moving average of $92.68. The stock has a market capitalization of $8.94 billion, a P/E ratio of -15.10 and a beta of 1.02.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings data 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, analysts expect that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PCVX. Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Vaxcyte in a research report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $160.00 price objective on shares of Vaxcyte in a research report on Wednesday, March 12th. Finally, The Goldman Sachs Group began coverage on shares of Vaxcyte in a research note on Friday, December 20th. They set 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, the stock currently has a consensus rating of “Buy” and an average price target of $147.50.

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.