Jennison Associates LLC Increases Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

Jennison Associates LLC lifted its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,246,551 shares of the company's stock after acquiring an additional 9,121 shares during the quarter. Jennison Associates LLC owned approximately 1.00% of Vaxcyte worth $102,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its stake in Vaxcyte by 68.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 21,466 shares of the company's stock worth $2,453,000 after purchasing an additional 8,685 shares during the period. Natixis Advisors LLC lifted its position in Vaxcyte by 61.1% in the 3rd quarter. Natixis Advisors LLC now owns 22,697 shares of the company's stock valued at $2,594,000 after acquiring an additional 8,606 shares in the last quarter. Diversified Trust Co bought a new position in shares of Vaxcyte in the fourth quarter valued at approximately $1,433,000. Lisanti Capital Growth LLC boosted its holdings in Vaxcyte by 68.1% during the 3rd quarter. Lisanti Capital Growth LLC now owns 32,515 shares of the company's stock worth $3,715,000 after acquiring an additional 13,175 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in Vaxcyte by 52.6% during the third quarter. WCM Investment Management LLC now owns 140,847 shares of the company's stock worth $15,935,000 after purchasing an additional 48,543 shares during the last quarter. Institutional investors own 96.78% of the company's stock.

Analyst Upgrades and Downgrades

PCVX has been the subject of several research analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Vaxcyte in a research note on Wednesday, November 6th. The Goldman Sachs Group assumed coverage on shares of Vaxcyte in a research note on Friday, December 20th. They issued a "buy" rating and a $135.00 target price on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $140.00 price target on shares of Vaxcyte in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $145.71.

Insider Buying and Selling

In related news, Director Teri Loxam sold 6,250 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total value of $531,937.50. Following the transaction, the director now owns 7,175 shares in the company, valued at $610,664.25. The trade was a 46.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Grant Pickering sold 2,366 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $92.25, for a total transaction of $218,263.50. Following the sale, the chief executive officer now directly owns 136,215 shares in the company, valued at $12,565,833.75. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,616 shares of company stock worth $6,095,681 in the last 90 days. Insiders own 3.10% of the company's stock.

Vaxcyte Stock Performance

Shares of Vaxcyte stock traded down $1.59 during trading on Friday, hitting $87.42. The company's stock had a trading volume of 681,501 shares, compared to its average volume of 1,183,052. Vaxcyte, Inc. has a 52 week low of $58.10 and a 52 week high of $121.06. The company has a market capitalization of $10.90 billion, a PE ratio of -19.00 and a beta of 0.98. The company has a fifty day simple moving average of $87.17 and a two-hundred day simple moving average of $94.38.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its 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 quarter in the prior year, the company posted ($0.91) EPS. As a group, analysts predict that Vaxcyte, Inc. will post -4.21 EPS 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.