Prudential Financial Inc. Has $10.46 Million Stake in Vaxcyte, Inc. (NASDAQ:PCVX)

Prudential Financial Inc. lifted its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 32.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,771 shares of the company's stock after purchasing an additional 31,118 shares during the period. Prudential Financial Inc. owned approximately 0.10% of Vaxcyte worth $10,459,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Vaxcyte by 4.6% during 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. Fox Run Management L.L.C. acquired a new stake in shares of Vaxcyte during the fourth quarter valued at approximately $327,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Vaxcyte in the 4th quarter valued at approximately $1,842,000. American Century Companies Inc. boosted 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 worth $49,547,000 after purchasing an additional 76,262 shares during the period. Finally, Teacher Retirement System of Texas grew its position in Vaxcyte by 42.1% during the 4th quarter. Teacher Retirement System of Texas now owns 32,963 shares of the company's stock worth $2,698,000 after purchasing an additional 9,769 shares in the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Teri Loxam sold 6,250 shares of the 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 transaction, the director now owns 7,175 shares of the company's stock, valued at approximately $610,664.25. This represents a 46.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jim Wassil sold 8,000 shares of the firm's 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 $11,351,794.37. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,250 shares of company stock worth $3,840,018. 3.10% of the stock is owned by corporate insiders.

Remove Ads

Vaxcyte Stock Down 45.6 %

Shares of PCVX traded down $31.70 during midday trading on Monday, reaching $37.76. 13,995,362 shares of the stock were exchanged, compared to its average volume of 1,032,559. The company has a market cap of $4.86 billion, a price-to-earnings ratio of -8.21 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 firm has a 50 day simple moving average of $80.07 and a 200-day simple moving average of $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 for the quarter, beating the consensus estimate of ($1.16) by $0.14. Research analysts expect that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 target price on shares of Vaxcyte in a research report on Wednesday, February 26th. The Goldman Sachs Group began coverage on Vaxcyte in a research report on Friday, December 20th. They set a "buy" rating and a $135.00 price objective for the company. Finally, Guggenheim reaffirmed a "buy" rating and set a $160.00 target price on shares of Vaxcyte in a research note on Wednesday, March 12th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $147.50.

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.