First Light Asset Management LLC Makes New Investment in Vaxcyte, Inc. $PCVX

Key Points

• First Light Asset Management LLC has invested approximately $3.57 million in Vaxcyte, acquiring 94,420 shares and now holds about 0.07% of the company.
• Vaxcyte reported a loss of ($1.22) earnings per share (EPS) for the last quarter, missing analyst expectations.
• Major institutional investors collectively own 96.78% of Vaxcyte's stock, indicating significant institutional interest in the company.

First Light Asset Management LLC purchased a new stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 94,420 shares of the company's stock, valued at approximately $3,565,000. First Light Asset Management LLC owned 0.07% of Vaxcyte at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. AlphaQuest LLC bought a new stake in Vaxcyte in the first quarter worth approximately $33,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Vaxcyte during the 1st quarter valued at $35,000. Parallel Advisors LLC raised its stake in Vaxcyte by 203.6% during the 1st quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock valued at $61,000 after purchasing an additional 1,071 shares during the last quarter. IFP Advisors Inc raised its stake in Vaxcyte by 376.4% during the 1st quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock valued at $62,000 after purchasing an additional 1,306 shares during the last quarter. Finally, Twin Tree Management LP raised its stake in shares of Vaxcyte by 301.3% in the 1st quarter. Twin Tree Management LP now owns 2,365 shares of the company's stock valued at $89,000 after buying an additional 3,540 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company's stock.

Analysts Set New Price Targets

Separately, Cowen reiterated a "buy" rating on shares of Vaxcyte in a research 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. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $130.00.

Vaxcyte Stock Performance

PCVX stock traded up $0.87 during mid-day trading on Friday, hitting $33.02. 1,375,472 shares of the company were exchanged, compared to its average volume of 1,478,937. The firm has a market cap of $4.29 billion, a P/E ratio of -8.03 and a beta of 1.04. The firm's 50 day simple moving average is $33.22 and its 200 day simple moving average is $40.97. Vaxcyte, Inc. has a 1-year low of $27.66 and a 1-year high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same quarter in the prior year, the business posted ($1.10) EPS. On average, equities research analysts predict that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

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.