Baker BROS. Advisors LP Purchases 592,000 Shares of Vaxcyte, Inc. $PCVX

Key Points

• Baker BROS. Advisors LP increased its holdings in Vaxcyte, Inc. by 1,211.0% during the first quarter, acquiring an additional 592,000 shares, bringing its total to 640,885 shares valued at approximately $24.2 million.
• Vaxcyte's stock currently has a Buy rating from several analysts, with an average target price of $136.50, reflecting a positive outlook despite recent quarterly earnings that missed estimates.
• As of the latest filings, 96.78% of Vaxcyte's stock is owned by institutional investors, indicating strong institutional confidence in the company.

Baker BROS. Advisors LP increased its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 1,211.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 640,885 shares of the company's stock after acquiring an additional 592,000 shares during the quarter. Baker BROS. Advisors LP owned about 0.50% of Vaxcyte worth $24,200,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Vaxcyte by 0.7% in the first quarter. Vanguard Group Inc. now owns 12,043,805 shares of the company's stock valued at $454,774,000 after acquiring an additional 82,118 shares in the last quarter. Wellington Management Group LLP boosted its stake in Vaxcyte by 44.4% in the first quarter. Wellington Management Group LLP now owns 6,416,930 shares of the company's stock valued at $242,303,000 after acquiring an additional 1,972,918 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its stake in Vaxcyte by 19.2% in the first quarter. Paradigm Biocapital Advisors LP now owns 1,696,481 shares of the company's stock valued at $64,059,000 after acquiring an additional 273,694 shares in the last quarter. Invesco Ltd. boosted its stake in Vaxcyte by 7.7% in the first quarter. Invesco Ltd. now owns 1,255,827 shares of the company's stock valued at $47,420,000 after acquiring an additional 89,773 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Vaxcyte by 5.6% in the fourth quarter. Deutsche Bank AG now owns 1,212,706 shares of the company's stock valued at $99,272,000 after acquiring an additional 64,522 shares in the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Cowen restated a "buy" rating on shares of Vaxcyte in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. According to MarketBeat, Vaxcyte currently has an average rating of "Buy" and an average target price of $136.50.

Vaxcyte Stock Performance

Shares of PCVX stock opened at $30.79 on Tuesday. Vaxcyte, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $121.06. The firm has a market capitalization of $4.00 billion, a PE ratio of -7.49 and a beta of 1.04. The stock's 50-day simple moving average is $33.29 and its 200-day simple moving average is $41.80.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.10). During the same period in the prior year, the business posted ($1.10) EPS. Sell-side analysts forecast that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.