Vaxcyte, Inc. (NASDAQ:PCVX) Shares Purchased by Assetmark Inc.

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. lifted its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 1,758.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,424 shares of the company's stock after buying an additional 13,648 shares during the period. Assetmark Inc.'s holdings in Vaxcyte were worth $545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in shares of Vaxcyte by 53.7% in the fourth quarter. Wells Fargo & Company MN now owns 72,275 shares of the company's stock worth $5,916,000 after buying an additional 25,257 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Vaxcyte by 5.5% in the first quarter. Rhumbline Advisers now owns 181,230 shares of the company's stock worth $6,843,000 after buying an additional 9,416 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Vaxcyte by 203.6% in the first quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock worth $61,000 after buying an additional 1,071 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Vaxcyte by 37.3% in the fourth quarter. Russell Investments Group Ltd. now owns 108,389 shares of the company's stock worth $8,873,000 after buying an additional 29,442 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Vaxcyte by 12.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 55,083 shares of the company's stock worth $4,509,000 after buying an additional 6,121 shares during the last quarter. Institutional investors own 96.78% of the company's stock.

Vaxcyte Stock Down 3.9%

PCVX traded down $1.33 on Wednesday, reaching $32.40. The company's stock had a trading volume of 421,160 shares, compared to its average volume of 1,778,362. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of -8.13 and a beta of 1.21. Vaxcyte, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $121.06. The stock has a 50 day moving average of $34.51 and a two-hundred day moving average of $49.58.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.02). During the same period in the previous year, the firm posted ($0.85) earnings per share. As a group, analysts anticipate that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PCVX shares. Cantor Fitzgerald started coverage on shares of Vaxcyte in a report on Tuesday, April 22nd. They set an "overweight" rating on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price target on shares of Vaxcyte in a report on Tuesday, April 8th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Vaxcyte has a consensus rating of "Buy" and a consensus target price of $136.50.

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.