abrdn plc Buys 141,994 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

abrdn plc raised its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 171.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 224,824 shares of the company's stock after purchasing an additional 141,994 shares during the period. abrdn plc owned 0.18% of Vaxcyte worth $18,404,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in shares of Vaxcyte by 0.7% during the fourth quarter. Jennison Associates LLC now owns 1,246,551 shares of the company's stock valued at $102,043,000 after purchasing an additional 9,121 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Vaxcyte by 23.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 26,428 shares of the company's stock worth $2,163,000 after buying an additional 4,962 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in Vaxcyte by 9.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,431 shares of the company's stock worth $440,000 after buying an additional 458 shares during the period. KBC Group NV lifted its stake in Vaxcyte by 78.0% in the fourth quarter. KBC Group NV now owns 4,775 shares of the company's stock valued at $391,000 after buying an additional 2,092 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Vaxcyte by 125.1% during the fourth quarter. Blue Trust Inc. now owns 835 shares of the company's stock valued at $68,000 after acquiring an additional 464 shares during the period. 96.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Vaxcyte in a research report on Wednesday, November 6th. Needham & Company LLC reiterated a "buy" rating and set a $140.00 price objective on shares of Vaxcyte in a research report on Wednesday, November 6th. Finally, 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 target price on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $145.71.

Insider Activity

In other news, COO Jim Wassil sold 8,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $86.22, for a total value of $689,760.00. Following the transaction, the chief operating officer now directly owns 205,695 shares of the company's stock, valued at $17,735,022.90. The trade was a 3.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Grant Pickering sold 15,000 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $92.45, for a total value of $1,386,750.00. Following the completion of the sale, the chief executive officer now owns 450,301 shares of the company's stock, valued at approximately $41,630,327.45. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,616 shares of company stock valued at $6,095,681. Insiders own 3.10% of the company's stock.

Vaxcyte Trading Down 1.7 %

NASDAQ PCVX opened at $85.94 on Tuesday. The firm's fifty day simple moving average is $87.04 and its 200-day simple moving average is $94.54. Vaxcyte, Inc. has a 1-year low of $58.10 and a 1-year high of $121.06. The company has a market capitalization of $10.71 billion, a PE ratio of -18.68 and a beta of 0.98.

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.