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

Jennison Associates LLC lowered its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,237,430 shares of the company's stock after selling 145,701 shares during the quarter. Jennison Associates LLC owned approximately 0.99% of Vaxcyte worth $141,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PCVX. Darwin Global Management Ltd. increased its position in shares of Vaxcyte by 374.3% in the first quarter. Darwin Global Management Ltd. now owns 2,750,804 shares of the company's stock worth $187,907,000 after purchasing an additional 2,170,845 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Vaxcyte by 15.2% in the 1st quarter. Vanguard Group Inc. now owns 9,737,254 shares of the company's stock worth $665,152,000 after buying an additional 1,284,883 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Vaxcyte by 20.4% in the 1st quarter. Capital Research Global Investors now owns 4,140,521 shares of the company's stock worth $282,839,000 after purchasing an additional 700,414 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Vaxcyte by 9.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,673,868 shares of the company's stock valued at $524,117,000 after purchasing an additional 692,492 shares during the last quarter. Finally, Avoro Capital Advisors LLC purchased a new position in shares of Vaxcyte during the 1st quarter valued at about $39,278,000. Hedge funds and other institutional investors own 96.78% of the company's stock.

Vaxcyte Trading Down 0.8 %

NASDAQ:PCVX traded down $0.66 during trading hours on Wednesday, reaching $86.42. 1,338,892 shares of the company traded hands, compared to its average volume of 894,167. Vaxcyte, Inc. has a 1 year low of $48.24 and a 1 year high of $121.06. The stock has a market capitalization of $10.77 billion, a P/E ratio of -18.93 and a beta of 1.01. The business's 50-day moving average price is $109.51 and its two-hundred day moving average price is $89.13.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $0.27. During the same quarter in the prior year, the firm posted ($0.91) EPS. As a group, equities analysts anticipate that Vaxcyte, Inc. will post -4.14 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PCVX. Leerink Partners boosted their price objective on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an "outperform" rating in a report on Tuesday, September 3rd. BTIG Research upped their price target on shares of Vaxcyte from $98.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a "buy" rating and issued a $140.00 target price on shares of Vaxcyte in a research note on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Vaxcyte in a research note on Wednesday, November 6th. Finally, Bank of America upped their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $147.50.

Insider Buying and Selling

In other news, CFO Andrew Guggenhime sold 8,000 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total value of $927,520.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Grant Pickering sold 15,000 shares of Vaxcyte stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $78.98, for a total value of $1,184,700.00. Following the completion of the transaction, the chief executive officer now owns 478,888 shares of the company's stock, valued at approximately $37,822,574.24. This represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,464 shares of company stock valued at $12,640,276. Company 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.