Assetmark Inc. Purchases 13,648 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

Key Points

• Assetmark Inc. significantly increased its stake in Vaxcyte, Inc. by 1,758.8% in Q1, now owning 14,424 shares valued at $545,000.
• Vaxcyte's stock has been positively rated, with nine analysts endorsing a buy rating and a target price average of $136.50.
• Despite a recent quarterly loss of ($1.04) EPS, analysts expect a significant improvement with an average forecast of ($4.21) EPS for the coming year.

Assetmark Inc. increased its stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 1,758.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,424 shares of the company's stock after purchasing an additional 13,648 shares during the quarter. Assetmark Inc.'s holdings in Vaxcyte were worth $545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PCVX. Schroder Investment Management Group raised its stake in Vaxcyte by 211.8% in the fourth quarter. Schroder Investment Management Group now owns 44,818 shares of the company's stock valued at $3,675,000 after purchasing an additional 30,444 shares in the last quarter. National Bank of Canada FI purchased a new position in Vaxcyte in the fourth quarter worth $41,000. Geode Capital Management LLC lifted its stake in Vaxcyte by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 2,802,888 shares of the company's stock worth $229,495,000 after purchasing an additional 102,106 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Vaxcyte by 53.7% in the 4th quarter. Wells Fargo & Company MN now owns 72,275 shares of the company's stock worth $5,916,000 after purchasing an additional 25,257 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Vaxcyte by 12.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 55,083 shares of the company's stock valued at $4,509,000 after purchasing an additional 6,121 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

Vaxcyte Stock Up 2.1%

NASDAQ:PCVX traded up $0.70 on Monday, hitting $33.72. The stock had a trading volume of 824,499 shares, compared to its average volume of 1,793,690. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of -8.45 and a beta of 1.21. Vaxcyte, Inc. has a 52-week low of $27.66 and a 52-week high of $121.06. The business's 50-day simple moving average is $34.44 and its two-hundred day simple moving average is $50.05.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.02). During the same quarter in the prior year, the company earned ($0.85) earnings per share. As a group, equities research analysts anticipate that Vaxcyte, Inc. will post -4.21 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 target price on shares of Vaxcyte in a research report on Tuesday, April 8th. Cantor Fitzgerald started coverage on shares of Vaxcyte in a research report on Tuesday, April 22nd. They set an "overweight" rating on the stock. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $136.50.

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.