KLP Kapitalforvaltning AS Purchases Shares of 22,500 Vaxcyte, Inc. (NASDAQ:PCVX)

KLP Kapitalforvaltning AS acquired a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 22,500 shares of the company’s stock, valued at approximately $1,842,000.

Other large investors have also modified their holdings of the company. Bank of Montreal Can acquired a new position in Vaxcyte during the third quarter worth approximately $3,104,000. The Manufacturers Life Insurance Company grew its stake in shares of Vaxcyte by 19.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 157,024 shares of the company’s stock valued at $17,943,000 after buying an additional 25,275 shares during the period. MetLife Investment Management LLC grew its stake in shares of Vaxcyte by 7.7% during the 3rd quarter. MetLife Investment Management LLC now owns 67,833 shares of the company’s stock valued at $7,751,000 after buying an additional 4,866 shares during the period. Acuta Capital Partners LLC increased its holdings in shares of Vaxcyte by 22.6% during the 3rd quarter. Acuta Capital Partners LLC now owns 135,400 shares of the company’s stock worth $15,472,000 after buying an additional 25,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Vaxcyte by 4.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,311 shares of the company’s stock worth $2,435,000 after buying an additional 826 shares during the period. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Vaxcyte Stock Up 3.2 %

Shares of NASDAQ:PCVX opened at $70.77 on Friday. The company has a market capitalization of $9.11 billion, a price-to-earnings ratio of -15.38 and a beta of 1.02. The company has a 50 day moving average of $80.38 and a two-hundred day moving average of $93.00. Vaxcyte, Inc. has a 52-week low of $58.10 and a 52-week high of $121.06.

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

Insider Buying and Selling

In related news, COO Jim Wassil sold 8,000 shares of the company’s 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 sale, the chief operating officer now directly owns 154,931 shares of the company’s stock, valued at $11,351,794.37. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $531,937.50. Following the transaction, the director now owns 7,175 shares in the company, valued at $610,664.25. This trade represents a 46.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,250 shares of company stock worth $3,840,018. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. The Goldman Sachs Group assumed coverage on Vaxcyte in a research note on Friday, December 20th. They set a “buy” rating and a $135.00 price target for the company. 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. Finally, Guggenheim restated 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 data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $147.50.

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.