Fiera Capital Corp Makes New $13.56 Million Investment in Vaxcyte, Inc. (NASDAQ:PCVX)

Key Points

• Fiera Capital Corp invested approximately $13.56 million in Vaxcyte, purchasing 359,202 shares, representing about 0.28% of the company's stock.
• Vaxcyte's recent performance saw its stock trading down 3.3%, with a current market price of $34.68 and a year range between $27.66 and $121.06.
• Analysts have given Vaxcyte an average rating of "Buy" with a target price of $136.50, despite the company posting a quarterly loss that missed expectations.

Fiera Capital Corp purchased a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 359,202 shares of the company's stock, valued at approximately $13,563,000. Fiera Capital Corp owned about 0.28% of Vaxcyte as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Vaxcyte by 25.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,472 shares of the company's stock valued at $6,405,000 after purchasing an additional 15,200 shares during the period. Norges Bank bought a new stake in Vaxcyte in the 4th quarter valued at about $90,069,000. DnB Asset Management AS increased its position in Vaxcyte by 21.6% in the 4th quarter. DnB Asset Management AS now owns 7,067 shares of the company's stock valued at $579,000 after buying an additional 1,255 shares in the last quarter. Schroder Investment Management Group increased its stake in Vaxcyte by 211.8% during the 4th 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. Finally, Alliancebernstein L.P. increased its stake in Vaxcyte by 8.1% during the 4th quarter. Alliancebernstein L.P. now owns 1,779,362 shares of the company's stock valued at $145,659,000 after purchasing an additional 133,448 shares in the last quarter. Institutional investors own 96.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and set a $90.00 price target on shares of Vaxcyte in a research note on Tuesday, April 8th. Bank of America cut their price target on Vaxcyte from $157.00 to $137.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. The Goldman Sachs Group cut their price target on Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Cantor Fitzgerald began coverage on Vaxcyte in a research note on Tuesday, April 22nd. They set an "overweight" rating for the company. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $136.50.

Vaxcyte Trading Up 0.4%

Shares of PCVX stock traded up $0.14 during trading hours on Wednesday, hitting $34.82. 990,221 shares of the company were exchanged, compared to its average volume of 1,148,064. The firm has a fifty day simple moving average of $34.42 and a 200 day simple moving average of $51.33. Vaxcyte, Inc. has a 52-week low of $27.66 and a 52-week high of $121.06. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of -8.73 and a beta of 1.19.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings results 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 prior year, the firm posted ($0.85) EPS. Sell-side analysts anticipate that Vaxcyte, Inc. will post -4.21 EPS 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.