Eventide Asset Management LLC Purchases 86,776 Shares of Vaxcyte, Inc. $PCVX

Key Points

• Eventide Asset Management LLC increased its position in Vaxcyte, Inc. by 22.6%, purchasing 86,776 shares to bring its total holdings to approximately 470,230 shares, valued at $17.8 million.
• Vaxcyte reported a quarterly loss of ($1.22) EPS, missing analyst expectations of ($1.12) EPS; analysts estimate the company will report an average of ($4.21) EPS for the fiscal year.
• Majority of Vaxcyte's stock is owned by institutional investors, with a consensus rating of "Buy" and a target price of $130.00 among analysts.

Eventide Asset Management LLC raised its holdings in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 22.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 470,230 shares of the company's stock after buying an additional 86,776 shares during the period. Eventide Asset Management LLC owned about 0.36% of Vaxcyte worth $17,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PCVX. RA Capital Management L.P. lifted its stake in shares of Vaxcyte by 40.3% in the first quarter. RA Capital Management L.P. now owns 12,189,149 shares of the company's stock valued at $460,262,000 after buying an additional 3,499,959 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 buying an additional 1,972,918 shares in the last quarter. Baker BROS. Advisors LP lifted its stake in shares of Vaxcyte by 1,211.0% in the first quarter. Baker BROS. Advisors LP now owns 640,885 shares of the company's stock valued at $24,200,000 after buying an additional 592,000 shares in the last quarter. Nuveen LLC bought a new position in shares of Vaxcyte in the first quarter valued at $20,988,000. Finally, Paradigm Biocapital Advisors LP raised its holdings in shares of Vaxcyte by 57.3% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,422,787 shares of the company's stock valued at $116,469,000 after purchasing an additional 518,255 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

Vaxcyte Stock Performance

PCVX traded up $0.87 during midday trading on Friday, reaching $33.02. The company had a trading volume of 1,375,472 shares, compared to its average volume of 1,478,937. The stock has a market cap of $4.29 billion, a PE ratio of -8.03 and a beta of 1.04. Vaxcyte, Inc. has a 12-month low of $27.66 and a 12-month high of $121.06. The business has a 50-day moving average price of $33.22 and a two-hundred day moving average price of $40.67.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.10). During the same quarter last year, the firm earned ($1.10) EPS. On average, research analysts anticipate that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Analyst Ratings Changes

Separately, Cowen reiterated a "buy" rating on shares of Vaxcyte in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $130.00.

Vaxcyte 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.