Allspring Global Investments Holdings LLC Grows Stock Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

Allspring Global Investments Holdings LLC lifted its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 70.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 593,523 shares of the company’s stock after buying an additional 246,049 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.48% of Vaxcyte worth $49,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PCVX. Riverview Trust Co purchased a new stake in Vaxcyte in the third quarter worth about $27,000. Blue Trust Inc. grew its holdings in Vaxcyte by 33.5% in the third quarter. Blue Trust Inc. now owns 371 shares of the company’s stock worth $42,000 after purchasing an additional 93 shares during the period. Meeder Asset Management Inc. grew its holdings in Vaxcyte by 1,007.9% in the third quarter. Meeder Asset Management Inc. now owns 698 shares of the company’s stock worth $80,000 after purchasing an additional 635 shares during the period. Nomura Asset Management Co. Ltd. purchased a new stake in Vaxcyte in the third quarter worth about $92,000. Finally, Signaturefd LLC grew its holdings in Vaxcyte by 51.9% in the third quarter. Signaturefd LLC now owns 1,048 shares of the company’s stock worth $120,000 after purchasing an additional 358 shares during the period. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PCVX shares. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Vaxcyte in a report on Tuesday. The Goldman Sachs Group assumed coverage on shares of Vaxcyte in a research note on Friday, December 20th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Vaxcyte in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vaxcyte presently has a consensus rating of “Buy” and an average target price of $127.71.

Insider Activity at Vaxcyte

In related news, 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 transaction, the senior vice president now owns 28,697 shares in the company, valued at $2,625,488.53. This represents a 14.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Grant Pickering sold 15,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $92.45, for a total transaction of $1,386,750.00. Following the transaction, the chief executive officer now owns 450,301 shares in the company, valued at approximately $41,630,327.45. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,616 shares of company stock worth $6,095,681 over the last quarter. Company insiders own 3.10% of the company’s stock.

Vaxcyte Stock Performance

Shares of NASDAQ PCVX opened at $83.84 on Friday. The company has a market cap of $10.45 billion, a PE ratio of -18.23 and a beta of 0.98. The firm’s 50 day moving average price is $86.67 and its 200-day moving average price is $94.50. Vaxcyte, Inc. has a 52-week low of $58.10 and a 52-week high of $121.06.

Vaxcyte 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.