Caitong International Asset Management Co. Ltd Raises Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in Vaxcyte, Inc. by 7,023.7%, now holding 21,015 shares valued at approximately $794,000.
• Vaxcyte's stock is currently trading at $30.00, with a market cap of $3.89 billion and a 12-month price fluctuation between $27.66 and $121.06.
• Analysts maintain a consensus rating of "Buy" on Vaxcyte, with a target price of $136.50, reflecting positive expectations for the company's future performance.

Caitong International Asset Management Co. Ltd raised its holdings in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 7,023.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,015 shares of the company's stock after acquiring an additional 20,720 shares during the period. Vaxcyte makes up approximately 0.6% of Caitong International Asset Management Co. Ltd's investment portfolio, making the stock its 25th largest position. Caitong International Asset Management Co. Ltd's holdings in Vaxcyte were worth $794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN raised its position in Vaxcyte by 53.7% in the fourth quarter. Wells Fargo & Company MN now owns 72,275 shares of the company's stock valued at $5,916,000 after purchasing an additional 25,257 shares during the period. Rhumbline Advisers boosted its position in shares of Vaxcyte by 5.5% during 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 period. Parallel Advisors LLC grew its stake in shares of Vaxcyte by 203.6% in the first quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock valued at $61,000 after buying an additional 1,071 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Vaxcyte by 12.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 55,083 shares of the company's stock valued at $4,509,000 after buying an additional 6,121 shares during the period. Finally, Barclays PLC boosted its holdings in Vaxcyte by 19.1% during the 4th quarter. Barclays PLC now owns 254,885 shares of the company's stock valued at $20,865,000 after acquiring an additional 40,932 shares during the period. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Trading Up 1.1%

Shares of Vaxcyte stock opened at $30.00 on Wednesday. The company has a fifty day simple moving average of $34.23 and a 200-day simple moving average of $47.59. Vaxcyte, Inc. has a 12-month low of $27.66 and a 12-month high of $121.06. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -7.30 and a beta of 1.21.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings data 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 quarter last year, the business earned ($1.10) earnings per share. On average, analysts forecast that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of Vaxcyte in a research note on Tuesday, April 22nd. They set an "overweight" rating on the stock. Cowen reiterated a "buy" rating on shares of Vaxcyte in a research note on Thursday, August 7th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vaxcyte has a consensus rating of "Buy" and a consensus target price 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.

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