Zacks Investment Management Acquires Shares of 13,645 Vaxcyte, Inc. (NASDAQ:PCVX)

Zacks Investment Management purchased a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,645 shares of the company's stock, valued at approximately $1,559,000.

A number of other institutional investors also recently made changes to their positions in PCVX. Envestnet Portfolio Solutions Inc. acquired a new stake in Vaxcyte in the second quarter worth approximately $202,000. J.Safra Asset Management Corp lifted its holdings in shares of Vaxcyte by 649.4% in the second quarter. J.Safra Asset Management Corp now owns 607 shares of the company's stock valued at $46,000 after buying an additional 526 shares during the period. Assenagon Asset Management S.A. bought a new position in Vaxcyte during the second quarter valued at about $213,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Vaxcyte during the second quarter worth about $342,000. Finally, Raymond James & Associates raised its position in Vaxcyte by 4.7% in the second quarter. Raymond James & Associates now owns 69,437 shares of the company's stock worth $5,243,000 after acquiring an additional 3,105 shares in the last quarter. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Stock Performance

Shares of PCVX traded down $1.63 during trading hours on Tuesday, hitting $90.43. 951,907 shares of the company were exchanged, compared to its average volume of 905,805. The company has a market cap of $11.27 billion, a PE ratio of -19.66 and a beta of 0.94. The firm's 50 day moving average is $103.01 and its 200-day moving average is $91.26. Vaxcyte, Inc. has a 52 week low of $53.83 and a 52 week high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, beating analysts' consensus estimates of ($1.10) by $0.27. During the same quarter in the prior year, the business posted ($0.91) earnings per share. As a group, equities analysts forecast that Vaxcyte, Inc. will post -4.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PCVX shares. Bank of America lifted their price objective on shares of Vaxcyte from $101.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Leerink Partners upped their price target on shares of Vaxcyte from $106.00 to $153.00 and gave the company an "outperform" rating in a research report on Tuesday, September 3rd. Jefferies Financial Group lifted their price objective on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Mizuho raised their target price on Vaxcyte from $113.00 to $163.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Vaxcyte in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $147.50.

Insider Buying and Selling at Vaxcyte

In related news, CEO Grant Pickering sold 2,366 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $92.25, for a total value of $218,263.50. Following the sale, the chief executive officer now owns 136,215 shares of the company's stock, valued at $12,565,833.75. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mikhail Eydelman sold 5,000 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $91.49, for a total value of $457,450.00. Following the completion of the sale, the senior vice president now directly owns 28,697 shares in the company, valued at approximately $2,625,488.53. This represents a 14.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,830 shares of company stock valued at $12,600,310 in the last 90 days. 3.10% of the stock is currently owned by insiders.

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.