22,324 Shares of Vaxcyte, Inc. $PCVX Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a position in Vaxcyte, purchasing 22,324 shares worth approximately $1.27 million in the third quarter. Institutional investors collectively own 96.78% of the stock.
• Vaxcyte insiders sold 50,692 shares valued at about $4.03 million over the past three months; the two executives highlighted made their sales under pre-arranged Rule 10b5-1 plans.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $110.50. Vaxcyte reported a quarterly loss of $1.99 per share, narrower than analysts’ $2.11 loss estimate.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 22,324 shares of the company's stock, valued at approximately $1,270,000.

A number of other large investors have also made changes to their positions in PCVX. IFP Advisors Inc boosted its holdings in shares of Vaxcyte by 72.8% in the second quarter. IFP Advisors Inc now owns 560 shares of the company's stock worth $33,000 after buying an additional 236 shares during the last quarter. Manchester Capital Management LLC bought a new stake in Vaxcyte during the third quarter valued at approximately $47,000. EverSource Wealth Advisors LLC increased its holdings in Vaxcyte by 68.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the company's stock valued at $73,000 after buying an additional 507 shares during the last quarter. Allworth Financial LP purchased a new stake in Vaxcyte during the second quarter valued at approximately $75,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Vaxcyte during the second quarter valued at approximately $78,000. 96.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Elvia Cowan sold 3,000 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $60.92, for a total transaction of $182,760.00. Following the sale, the chief accounting officer directly owned 27,860 shares in the company, valued at $1,697,231.20. This trade represents a 9.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jim Wassil sold 2,250 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $60.90, for a total transaction of $137,025.00. Following the sale, the executive vice president owned 145,435 shares in the company, valued at $8,856,991.50. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 50,692 shares of company stock valued at $4,032,875. Corporate insiders own 3.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PCVX shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a research report on Friday, October 2nd. BTIG Research reissued a "buy" rating and set a $89.00 price objective on shares of Vaxcyte in a research report on Monday, October 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $120.00 price objective on shares of Vaxcyte in a research note on Monday, October 12th. Bank of America decreased their target price on Vaxcyte from $133.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, September 28th. Finally, Needham & Company LLC lifted their target price on Vaxcyte from $110.00 to $122.00 and gave the company a "buy" rating in a research report on Monday, October 5th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Vaxcyte has an average rating of "Moderate Buy" and a consensus price target of $110.50.

Vaxcyte Stock Performance

Shares of NASDAQ:PCVX opened at $63.89 on Monday. The stock has a 50 day moving average of $61.71 and a 200 day moving average of $57.32. The company has a market cap of $9.51 billion, a PE ratio of -7.93 and a beta of 1.31. Vaxcyte, Inc. has a 12-month low of $40.14 and a 12-month high of $90.75. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.04.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported ($1.99) EPS for the quarter, topping analysts' consensus estimates of ($2.11) by $0.12. During the same quarter in the prior year, the firm posted ($1.56) EPS. As a group, equities research analysts expect that Vaxcyte, Inc. will post -7.73 EPS for the current year.

Vaxcyte Profile

Vaxcyte, Inc is a clinical-stage biotechnology company developing vaccines to prevent bacterial infectious diseases. Its research focuses on conjugate vaccines, which link bacterial sugars to carrier proteins to help generate an immune response.

The company's pipeline includes VAX-24 and VAX-31, investigational pneumococcal vaccines designed to protect against a broad range of strains, as well as VAX-A1, a candidate targeting Group A Streptococcus. Vaxcyte has no approved commercial vaccines; its programs remain under development.

Founded as SutroVax, the company adopted the Vaxcyte name in 2020.

Want to see what other hedge funds are holding PCVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vaxcyte, Inc. (NASDAQ:PCVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.