Lord Abbett & CO. LLC Raises Stock Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

Lord Abbett & CO. LLC lifted its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 26.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 312,425 shares of the company's stock after purchasing an additional 66,183 shares during the quarter. Lord Abbett & CO. LLC owned about 0.25% of Vaxcyte worth $35,701,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC increased its stake in Vaxcyte by 23.1% in the third quarter. Janus Henderson Group PLC now owns 10,921,896 shares of the company's stock valued at $1,247,954,000 after acquiring an additional 2,052,989 shares during the last quarter. RA Capital Management L.P. increased its stake in shares of Vaxcyte by 5.9% in the third quarter. RA Capital Management L.P. now owns 8,689,190 shares of the company's stock worth $992,914,000 after buying an additional 485,436 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Vaxcyte by 47.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,837 shares of the company's stock valued at $148,075,000 after buying an additional 419,600 shares during the period. Point72 Asset Management L.P. bought a new stake in Vaxcyte in the 3rd quarter worth $41,114,000. Finally, Maverick Capital Ltd. increased its position in shares of Vaxcyte by 93.7% in the second quarter. Maverick Capital Ltd. now owns 687,908 shares of the company's stock valued at $51,944,000 after acquiring an additional 332,777 shares during the period. 96.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vaxcyte news, CEO Grant Pickering sold 2,366 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $92.25, for a total value of $218,263.50. Following the sale, the chief executive officer now owns 136,215 shares in the company, valued at $12,565,833.75. The trade was a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total value of $927,520.00. Following the transaction, the chief financial officer now directly owns 90,383 shares of the company's stock, valued at approximately $10,479,005.02. The trade was a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,830 shares of company stock worth $12,600,310. 3.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group raised their target price on Vaxcyte from $108.00 to $129.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Mizuho upped their target price on Vaxcyte from $113.00 to $163.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Leerink Partners raised their price target on Vaxcyte from $106.00 to $153.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 3rd. Needham & Company LLC reissued a "buy" rating and set a $140.00 price objective on shares of Vaxcyte in a research report on Wednesday, November 6th. Finally, Bank of America upped their price objective on shares of Vaxcyte from $101.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte has a consensus rating of "Buy" and an average price target of $147.50.

Vaxcyte Stock Performance

Shares of NASDAQ PCVX traded down $0.15 during midday trading on Friday, reaching $87.72. The stock had a trading volume of 977,015 shares, compared to its average volume of 904,422. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of -19.07 and a beta of 0.94. Vaxcyte, Inc. has a 12-month low of $53.83 and a 12-month high of $121.06. The stock has a 50-day moving average of $101.11 and a 200-day moving average of $91.68.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.10) by $0.27. During the same period in the previous year, the business posted ($0.91) earnings per share. As a group, analysts forecast that Vaxcyte, Inc. will post -4.14 EPS for the current fiscal 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.