Bank of Montreal Can Invests $3.10 Million in Vaxcyte, Inc. (NASDAQ:PCVX)

Bank of Montreal Can bought a new position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 27,433 shares of the company's stock, valued at approximately $3,104,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in shares of Vaxcyte by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company's stock worth $42,000 after acquiring an additional 93 shares during the period. Nisa Investment Advisors LLC grew its position in Vaxcyte by 5.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,209 shares of the company's stock worth $252,000 after purchasing an additional 110 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Vaxcyte by 3.6% in the third quarter. CIBC Asset Management Inc now owns 3,136 shares of the company's stock valued at $358,000 after purchasing an additional 110 shares during the period. Amalgamated Bank boosted its position in shares of Vaxcyte by 4.2% during the second quarter. Amalgamated Bank now owns 3,759 shares of the company's stock worth $284,000 after buying an additional 150 shares during the period. Finally, Riverview Trust Co acquired a new position in shares of Vaxcyte during the third quarter worth approximately $27,000. 96.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 target price on shares of Vaxcyte in a research note on Wednesday, November 6th. Bank of America increased their target price on shares of Vaxcyte from $101.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Jefferies Financial Group boosted their price target on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. BTIG Research increased their price objective on shares of Vaxcyte from $98.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Vaxcyte in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vaxcyte currently has a consensus rating of "Buy" and an average price target of $147.50.

Vaxcyte Stock Performance

Shares of NASDAQ:PCVX traded down $3.00 during mid-day trading on Thursday, hitting $90.04. The stock had a trading volume of 1,154,102 shares, compared to its average volume of 907,190. Vaxcyte, Inc. has a 12-month low of $53.41 and a 12-month high of $121.06. The company has a market cap of $11.22 billion, a PE ratio of -19.57 and a beta of 0.94. The company's 50 day moving average is $103.85 and its 200-day moving average is $90.72.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, beating analysts' consensus estimates of ($1.10) by $0.27. During the same period in the previous year, the company posted ($0.91) EPS. On average, equities research analysts predict that Vaxcyte, Inc. will post -4.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Grant Pickering sold 2,366 shares of Vaxcyte stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $103.89, for a total value of $245,803.74. Following the completion of the sale, the chief executive officer now owns 137,398 shares of the company's stock, valued at approximately $14,274,278.22. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $115.94, for a total transaction of $927,520.00. Following the transaction, the chief financial officer now directly owns 90,383 shares in the company, valued at $10,479,005.02. The trade was a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,464 shares of company stock worth $11,924,596. Corporate insiders own 3.10% of the company's stock.

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.