Renaissance Technologies LLC Takes Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Renaissance Technologies LLC acquired a new position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 54,077 shares of the company's stock, valued at approximately $4,427,000.

Other institutional investors have also added to or reduced their stakes in the company. MML Investors Services LLC bought a new position in shares of Vaxcyte in the 3rd quarter worth approximately $260,000. Virtu Financial LLC bought a new stake in shares of Vaxcyte during the 3rd quarter valued at $355,000. Sanctuary Advisors LLC purchased a new stake in shares of Vaxcyte in the 3rd quarter worth $507,000. Franklin Resources Inc. raised its holdings in Vaxcyte by 13.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,786,335 shares of the company's stock worth $315,162,000 after purchasing an additional 324,560 shares during the period. Finally, Lord Abbett & CO. LLC lifted its position in Vaxcyte by 26.9% during the third quarter. Lord Abbett & CO. LLC now owns 312,425 shares of the company's stock valued at $35,701,000 after purchasing an additional 66,183 shares in the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Vaxcyte Trading Down 5.0 %

Shares of PCVX stock traded down $1.74 during trading hours on Friday, reaching $32.77. 792,477 shares of the stock were exchanged, compared to its average volume of 1,232,384. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -7.10 and a beta of 1.26. Vaxcyte, Inc. has a 12-month low of $27.66 and a 12-month high of $121.06. The company's 50-day moving average price is $56.56 and its 200-day moving average price is $80.88.

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

Insider Buying and Selling

In other news, COO Jim Wassil sold 8,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $73.27, for a total value of $586,160.00. Following the completion of the sale, the chief operating officer now directly owns 154,931 shares in the company, valued at $11,351,794.37. The trade was a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 24,000 shares of company stock valued at $1,946,720 over the last 90 days. Insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Evercore ISI raised shares of Vaxcyte to a "strong-buy" rating in a report on Monday, March 31st. Cantor Fitzgerald started coverage on shares of Vaxcyte in a research note on Tuesday. They set an "overweight" rating on the stock. The Goldman Sachs Group cut their price target on Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Guggenheim reissued a "buy" rating and set a $160.00 target price on shares of Vaxcyte in a research note on Wednesday, March 12th. Finally, Needham & Company LLC restated a "buy" rating and issued a $90.00 price target on shares of Vaxcyte in a research note on Tuesday, April 8th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $136.50.

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.