Valence8 US LP Takes Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Valence8 US LP acquired a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,468 shares of the company’s stock, valued at approximately $282,000.

A number of other institutional investors have also added to or reduced their stakes in PCVX. Darwin Global Management Ltd. grew its stake in shares of Vaxcyte by 374.3% during the first quarter. Darwin Global Management Ltd. now owns 2,750,804 shares of the company’s stock worth $187,907,000 after buying an additional 2,170,845 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Vaxcyte by 15.2% during the 1st quarter. Vanguard Group Inc. now owns 9,737,254 shares of the company’s stock valued at $665,152,000 after acquiring an additional 1,284,883 shares in the last quarter. Janus Henderson Group PLC grew its position in Vaxcyte by 9.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,673,868 shares of the company’s stock worth $524,117,000 after acquiring an additional 692,492 shares during the last quarter. Avoro Capital Advisors LLC acquired a new position in Vaxcyte in the 1st quarter worth about $39,278,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Vaxcyte by 18.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,176,181 shares of the company’s stock worth $216,966,000 after purchasing an additional 498,359 shares in the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Vaxcyte news, SVP Mikhail Eydelman sold 5,000 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $109.27, for a total value of $546,350.00. Following the completion of the sale, the senior vice president now directly owns 28,623 shares in the company, valued at approximately $3,127,635.21. This trade represents a 14.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Grant Pickering sold 7,098 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $109.21, for a total transaction of $775,172.58. Following the transaction, the chief executive officer now owns 138,581 shares in the company, valued at $15,134,431.01. This represents a 4.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,464 shares of company stock valued at $11,455,576 in the last ninety days. 3.10% of the stock is owned by company insiders.

Vaxcyte Stock Performance

NASDAQ:PCVX opened at $88.39 on Friday. Vaxcyte, Inc. has a 52 week low of $48.24 and a 52 week high of $121.06. The firm’s fifty day moving average is $108.44 and its 200-day moving average is $89.10. The firm has a market cap of $11.02 billion, a P/E ratio of -19.22 and a beta of 1.01.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.27. During the same quarter in the prior year, the firm posted ($0.91) EPS. As a group, sell-side analysts anticipate that Vaxcyte, Inc. will post -4.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

PCVX has been the topic of a number of recent research reports. Bank of America lifted their price target on Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Mizuho boosted their target price on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. Leerink Partners boosted their price objective on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Vaxcyte in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $147.50.

About Vaxcyte

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.