1,100,286 Shares in Vaxcyte, Inc. (NASDAQ:PCVX) Purchased by Norges Bank

Norges Bank acquired a new stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,100,286 shares of the company's stock, valued at approximately $90,069,000. Norges Bank owned about 0.88% of Vaxcyte at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCVX. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Vaxcyte by 25.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,472 shares of the company's stock valued at $6,405,000 after acquiring an additional 15,200 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Vaxcyte by 32.2% in the fourth quarter. Prudential Financial Inc. now owns 127,771 shares of the company's stock worth $10,459,000 after purchasing an additional 31,118 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vaxcyte by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company's stock valued at $979,184,000 after purchasing an additional 521,204 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Vaxcyte during the fourth quarter valued at approximately $327,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Vaxcyte during the fourth quarter valued at approximately $1,842,000. 96.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PCVX has been the subject of a number of analyst reports. Evercore ISI raised Vaxcyte to a "strong-buy" rating in a research report on Monday, March 31st. Bank of America lowered their target price on shares of Vaxcyte from $157.00 to $137.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. The Goldman Sachs Group cut their price target on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Guggenheim reaffirmed a "buy" rating and issued a $160.00 price objective on shares of Vaxcyte in a research report on Wednesday, March 12th. Finally, Needham & Company LLC dropped their target price on shares of Vaxcyte from $140.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $136.50.

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Vaxcyte Stock Performance

PCVX traded up $0.91 during midday trading on Monday, reaching $32.51. The company had a trading volume of 4,172,415 shares, compared to its average volume of 1,132,122. Vaxcyte, Inc. has a 12-month low of $29.57 and a 12-month high of $121.06. The business has a 50-day moving average price of $73.42 and a two-hundred day moving average price of $88.87. The stock has a market cap of $4.19 billion, a PE ratio of -7.07 and a beta of 1.26.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.14. On average, research analysts anticipate that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Insider Activity

In related news, COO Jim Wassil sold 8,000 shares of Vaxcyte stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $73.27, for a total value of $586,160.00. Following the completion of the transaction, the chief operating officer now directly owns 154,931 shares in the company, valued at approximately $11,351,794.37. The trade was a 4.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teri Loxam sold 6,250 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total transaction of $531,937.50. Following the sale, the director now directly owns 7,175 shares in the company, valued at $610,664.25. The trade was a 46.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,250 shares of company stock valued at $3,170,738 in the last 90 days. 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.