Capital Research Global Investors Grows Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Capital Research Global Investors increased its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,210,523 shares of the company's stock after purchasing an additional 1,312,302 shares during the period. Capital Research Global Investors owned 4.98% of Vaxcyte worth $508,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCVX. Curi RMB Capital LLC boosted its stake in Vaxcyte by 9.0% during the 4th quarter. Curi RMB Capital LLC now owns 8,616 shares of the company's stock worth $705,000 after purchasing an additional 715 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Vaxcyte by 115.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 293,706 shares of the company's stock worth $24,043,000 after buying an additional 157,277 shares in the last quarter. First Trust Advisors LP boosted its position in Vaxcyte by 4.8% during the fourth quarter. First Trust Advisors LP now owns 123,568 shares of the company's stock worth $10,115,000 after acquiring an additional 5,704 shares during the last quarter. Forum Financial Management LP purchased a new stake in Vaxcyte during the 4th quarter valued at about $255,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Vaxcyte by 23.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 28,379 shares of the company's stock valued at $2,318,000 after acquiring an additional 5,423 shares during the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Vaxcyte news, COO Jim Wassil sold 8,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $86.22, for a total value of $689,760.00. Following the completion of the transaction, the chief operating officer now owns 205,695 shares in the company, valued at $17,735,022.90. The trade was a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 24,000 shares of company stock valued at $1,946,720. 3.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PCVX shares. Bank of America lowered their target price on Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Needham & Company LLC reissued a "buy" rating and set a $90.00 price objective on shares of Vaxcyte in a research note on Tuesday, April 8th. Guggenheim reaffirmed a "buy" rating and issued a $160.00 target price on shares of Vaxcyte in a research note on Wednesday, March 12th. Evercore ISI raised shares of Vaxcyte to a "strong-buy" rating in a research report on Monday, March 31st. Finally, Cantor Fitzgerald started coverage on shares of Vaxcyte in a research report on Tuesday. They set an "overweight" rating for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $136.50.

Vaxcyte Stock Up 4.1 %

NASDAQ PCVX traded up $1.35 on Thursday, reaching $34.51. The stock had a trading volume of 1,180,382 shares, compared to its average volume of 1,229,818. Vaxcyte, Inc. has a 12-month low of $27.66 and a 12-month high of $121.06. The stock has a fifty day moving average price of $57.55 and a two-hundred day moving average price of $81.39. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -7.50 and a beta of 1.26.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.14. Sell-side analysts forecast 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.