Vaxcyte, Inc. (NASDAQ:PCVX) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,017,845 shares of the company's stock after purchasing an additional 236,940 shares during the period. Pictet Asset Management Holding SA owned approximately 0.82% of Vaxcyte worth $83,321,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PCVX. 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 worth $1,247,954,000 after purchasing an additional 2,052,989 shares during the period. Norges Bank bought a new position in shares of Vaxcyte in the fourth quarter worth about $90,069,000. Vanguard Group Inc. increased its stake in Vaxcyte by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company's stock worth $979,184,000 after buying an additional 521,204 shares during the period. RA Capital Management L.P. lifted its holdings in Vaxcyte by 5.9% during the 3rd quarter. RA Capital Management L.P. now owns 8,689,190 shares of the company's stock valued at $992,914,000 after buying an additional 485,436 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Vaxcyte in the 3rd quarter valued at about $41,114,000. 96.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PCVX shares. The Goldman Sachs Group reduced their target price on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday. Guggenheim restated a "buy" rating and set a $160.00 price objective on shares of Vaxcyte in a report on Wednesday, March 12th. Evercore ISI upgraded Vaxcyte to a "strong-buy" rating in a report on Monday. Needham & Company LLC cut their price target on Vaxcyte from $140.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Bank of America lowered their price objective on shares of Vaxcyte from $157.00 to $137.00 and set a "buy" rating for the company in a research note on Tuesday. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $136.50.

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Insider Activity at Vaxcyte

In related news, Director Teri Loxam sold 6,250 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total value of $531,937.50. Following the completion of the transaction, the director now owns 7,175 shares in the company, valued at $610,664.25. This trade represents a 46.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Andrew Guggenhime sold 8,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $86.51, for a total value of $692,080.00. Following the sale, the chief financial officer now owns 109,491 shares in the company, valued at approximately $9,472,066.41. The trade was a 6.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,250 shares of company stock valued at $3,170,738 in the last three months. 3.10% of the stock is owned by insiders.

Vaxcyte Stock Down 9.8 %

Shares of NASDAQ PCVX traded down $3.31 during trading hours on Thursday, hitting $30.38. 525,186 shares of the stock were exchanged, compared to its average volume of 1,519,121. The company has a market cap of $3.91 billion, a PE ratio of -6.60 and a beta of 1.02. Vaxcyte, Inc. has a 12 month low of $30.12 and a 12 month high of $121.06. The firm has a fifty day moving average price of $76.94 and a 200-day moving average price of $90.84.

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

About Vaxcyte

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.