AGF Management Ltd. Makes New Investment in Vaxcyte, Inc. (NASDAQ:PCVX)

AGF Management Ltd. acquired a new stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 28,444 shares of the company's stock, valued at approximately $2,328,000.

Several other institutional investors and hedge funds have also bought and sold shares of PCVX. Amalgamated Bank lifted its stake in Vaxcyte by 8.6% during the 3rd quarter. Amalgamated Bank now owns 4,081 shares of the company's stock valued at $466,000 after acquiring an additional 322 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Vaxcyte by 186.2% in the 3rd quarter. Principal Financial Group Inc. now owns 52,702 shares of the company's stock valued at $6,022,000 after purchasing an additional 34,287 shares during the period. Atria Investments Inc acquired a new position in shares of Vaxcyte in the 3rd quarter valued at $286,000. Los Angeles Capital Management LLC acquired a new position in shares of Vaxcyte in the 3rd quarter valued at $1,016,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Vaxcyte by 24.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,649 shares of the company's stock valued at $646,000 after purchasing an additional 1,120 shares during the period. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vaxcyte

In related news, Director Teri Loxam sold 6,250 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total value of $531,937.50. Following the sale, the director now directly owns 7,175 shares of the company's stock, valued at $610,664.25. This represents a 46.55 % 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, COO Jim Wassil sold 8,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $73.27, for a total transaction of $586,160.00. Following the transaction, the chief operating officer now directly owns 154,931 shares in the company, valued at $11,351,794.37. The trade was a 4.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,250 shares of company stock worth $3,840,018. 3.10% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PCVX shares. The Goldman Sachs Group started coverage on shares of Vaxcyte in a report on Friday, December 20th. They issued a "buy" rating and a $135.00 price target for the company. Guggenheim reissued a "buy" rating and issued a $160.00 price target on shares of Vaxcyte in a report on Wednesday, March 12th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $140.00 price target on shares of Vaxcyte in a report on Wednesday, February 26th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $147.50.

Vaxcyte Trading Up 1.9 %

Shares of PCVX traded up $1.42 during trading hours on Wednesday, reaching $76.14. The company had a trading volume of 996,528 shares, compared to its average volume of 1,162,602. Vaxcyte, Inc. has a 12-month low of $58.10 and a 12-month high of $121.06. The firm has a 50 day simple moving average of $81.77 and a 200-day simple moving average of $94.41. The company has a market capitalization of $9.80 billion, a price-to-earnings ratio of -16.55 and a beta of 1.02.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, topping analysts' consensus estimates of ($1.16) by $0.14. Sell-side analysts forecast that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Vaxcyte Company 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.