Jennison Associates LLC Has $42.51 Million Stock Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

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

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Vaxcyte by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company's stock worth $979,184,000 after buying an additional 521,204 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Vaxcyte by 26.8% during the fourth quarter. Capital Research Global Investors now owns 6,210,523 shares of the company's stock worth $508,393,000 after buying an additional 1,312,302 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Vaxcyte by 3.0% during the fourth quarter. Franklin Resources Inc. now owns 2,869,332 shares of the company's stock worth $234,884,000 after buying an additional 82,997 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Vaxcyte by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 2,802,888 shares of the company's stock worth $229,495,000 after buying an additional 102,106 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Vaxcyte by 8.1% during the fourth quarter. Alliancebernstein L.P. now owns 1,779,362 shares of the company's stock worth $145,659,000 after buying an additional 133,448 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America lowered their price target on shares of Vaxcyte from $157.00 to $137.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price target on shares of Vaxcyte in a report on Tuesday, April 8th. 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 note on Tuesday, April 1st. Cantor Fitzgerald initiated coverage on shares of Vaxcyte in a research note on Tuesday, April 22nd. They issued an "overweight" rating on the stock. Finally, Evercore ISI raised shares of Vaxcyte to a "strong-buy" rating in a research note on Monday, March 31st. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $136.50.

Vaxcyte Stock Down 3.1%

Shares of NASDAQ:PCVX opened at $36.21 on Friday. Vaxcyte, Inc. has a 12 month low of $27.66 and a 12 month high of $121.06. The company's fifty day simple moving average is $33.84 and its 200 day simple moving average is $53.65. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of -9.08 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 quarter in the previous year, the business posted ($0.85) EPS. Research analysts expect that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal 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.

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