Cibc World Markets Corp Makes New Investment in Vaxcyte, Inc. (NASDAQ:PCVX)

Cibc World Markets Corp purchased a new stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,620 shares of the company's stock, valued at approximately $951,000.

A number of other hedge funds have also modified their holdings of the stock. Janus Henderson Group PLC grew its stake in shares of Vaxcyte by 23.1% in the 3rd quarter. Janus Henderson Group PLC now owns 10,921,896 shares of the company's stock valued at $1,247,954,000 after buying an additional 2,052,989 shares in the last quarter. RA Capital Management L.P. grew its position in Vaxcyte by 5.9% in the third quarter. RA Capital Management L.P. now owns 8,689,190 shares of the company's stock worth $992,914,000 after acquiring an additional 485,436 shares in the last quarter. State Street Corp increased its stake in shares of Vaxcyte by 1.1% during the 3rd quarter. State Street Corp now owns 3,405,743 shares of the company's stock worth $389,174,000 after purchasing an additional 38,596 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Vaxcyte by 13.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,786,335 shares of the company's stock valued at $315,162,000 after purchasing an additional 324,560 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Vaxcyte by 10.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,700,782 shares of the company's stock valued at $308,675,000 after purchasing an additional 259,010 shares during the last quarter. 96.78% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Vaxcyte

In other news, Director Teri Loxam sold 6,250 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total transaction of $531,937.50. Following the sale, the director now directly owns 7,175 shares in the company, valued at approximately $610,664.25. The trade was a 46.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Andrew Guggenhime sold 8,000 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $86.51, for a total value of $692,080.00. Following the completion of the transaction, the chief financial officer now owns 109,491 shares of the company's stock, valued at $9,472,066.41. The trade was a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,250 shares of company stock worth $3,840,018 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Guggenheim reissued a "buy" rating and set a $160.00 target price on shares of Vaxcyte in a research report on Wednesday, March 12th. The Goldman Sachs Group began 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. Finally, Needham & Company LLC reissued a "buy" rating and issued a $140.00 price objective on shares of Vaxcyte in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vaxcyte presently has an average rating of "Buy" and an average price target of $147.50.

Vaxcyte Price Performance

Shares of NASDAQ PCVX traded down $3.34 during trading hours on Wednesday, hitting $68.56. 1,168,202 shares of the company's stock were exchanged, compared to its average volume of 937,166. The company's 50-day moving average price is $81.14 and its 200-day moving average price is $93.33. Vaxcyte, Inc. has a 1-year low of $58.10 and a 1-year high of $121.06. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of -14.90 and a beta of 1.02.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings results 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, research analysts expect that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

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.