KLP Kapitalforvaltning AS Purchases Shares of 22,500 Vaxcyte, Inc. (NASDAQ:PCVX)

KLP Kapitalforvaltning AS bought a new stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,500 shares of the company's stock, valued at approximately $1,842,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. increased its stake in Vaxcyte by 14.4% in the 4th quarter. American Century Companies Inc. now owns 605,267 shares of the company's stock valued at $49,547,000 after buying an additional 76,262 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Vaxcyte by 42.1% in the fourth quarter. Teacher Retirement System of Texas now owns 32,963 shares of the company's stock worth $2,698,000 after acquiring an additional 9,769 shares during the last quarter. Xponance Inc. increased its stake in shares of Vaxcyte by 13.4% in the fourth quarter. Xponance Inc. now owns 8,905 shares of the company's stock worth $729,000 after acquiring an additional 1,052 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of Vaxcyte during the fourth quarter worth $951,000. Finally, Corient Private Wealth LLC boosted its position in Vaxcyte by 140.8% during the fourth quarter. Corient Private Wealth LLC now owns 5,404 shares of the company's stock valued at $442,000 after purchasing an additional 3,160 shares during the last quarter. Institutional investors and hedge funds own 96.78% of the company's stock.

Insider Buying and Selling

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

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Wall Street Analysts Forecast Growth

PCVX has been the subject of several research reports. The Goldman Sachs Group initiated coverage on Vaxcyte in a report on Friday, December 20th. They set a "buy" rating and a $135.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $140.00 target price on shares of Vaxcyte in a research note on Wednesday, February 26th. Finally, Guggenheim restated a "buy" rating and set a $160.00 price target on shares of Vaxcyte in a report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte currently has an average rating of "Buy" and a consensus target price of $147.50.

Vaxcyte Stock Performance

PCVX traded down $34.46 on Monday, hitting $35.00. 9,435,334 shares of the company were exchanged, compared to its average volume of 1,015,646. The company has a market cap of $4.51 billion, a PE ratio of -7.62 and a beta of 1.02. Vaxcyte, Inc. has a 12 month low of $30.29 and a 12 month high of $121.06. The stock's fifty day moving average is $80.07 and its 200-day moving average is $92.37.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.16) by $0.14. As a group, equities research analysts expect that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

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.