Jennison Associates LLC Trims Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Jennison Associates LLC lowered its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 9.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,125,720 shares of the company's stock after selling 120,831 shares during the period. Jennison Associates LLC owned approximately 0.87% of Vaxcyte worth $42,507,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PCVX. Bridgefront Capital LLC lifted its holdings in Vaxcyte by 4.2% during the 4th quarter. Bridgefront Capital LLC now owns 4,244 shares of the company's stock valued at $347,000 after purchasing an additional 172 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Vaxcyte by 10.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company's stock worth $112,000 after purchasing an additional 293 shares during the period. Avior Wealth Management LLC lifted its stake in Vaxcyte by 5.3% in the 1st quarter. Avior Wealth Management LLC now owns 6,799 shares of the company's stock valued at $257,000 after acquiring an additional 343 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Vaxcyte by 4.7% in the 1st quarter. Xponance Inc. now owns 9,320 shares of the company's stock valued at $352,000 after buying an additional 415 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in Vaxcyte during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 96.78% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Bank of America reduced their price target on Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Cantor Fitzgerald assumed coverage on Vaxcyte in a research report on Tuesday, April 22nd. They set an "overweight" rating on the stock. Evercore ISI raised shares of Vaxcyte to a "strong-buy" rating in a report on Monday, March 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price target on shares of Vaxcyte in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $136.50.

Vaxcyte Trading Up 1.5%

Shares of PCVX traded up $0.54 on Wednesday, reaching $36.26. 132,388 shares of the company's stock traded hands, compared to its average volume of 1,490,067. The stock has a market cap of $4.68 billion, a PE ratio of -9.09 and a beta of 1.19. Vaxcyte, Inc. has a 52-week low of $27.66 and a 52-week high of $121.06. The stock's 50 day simple moving average is $33.84 and its two-hundred day simple moving average is $53.44.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its 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 last year, the firm posted ($0.85) EPS. 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.