MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Vaxcyte, Inc. (NASDAQ:PCVX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 17.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,534 shares of the company's stock after buying an additional 11,223 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Vaxcyte worth $6,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PCVX. Capital Research Global Investors grew its stake 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 valued at $508,393,000 after buying an additional 1,312,302 shares during the last quarter. Norges Bank bought a new position in shares of Vaxcyte during the fourth quarter valued at about $90,069,000. Vanguard Group Inc. grew its stake 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 valued at $979,184,000 after buying an additional 521,204 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Vaxcyte during the fourth quarter valued at about $39,846,000. Finally, Hood River Capital Management LLC bought a new position in shares of Vaxcyte during the fourth quarter valued at about $32,862,000. 96.78% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Jim Wassil sold 8,000 shares of Vaxcyte stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $73.27, for a total transaction of $586,160.00. Following the completion of the transaction, the chief operating officer now directly owns 154,931 shares in the company, valued at approximately $11,351,794.37. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PCVX shares. Guggenheim reissued a "buy" rating and issued a $160.00 target price on shares of Vaxcyte in a research note on Wednesday, March 12th. Cantor Fitzgerald started coverage on Vaxcyte in a research note on Tuesday, April 22nd. They issued an "overweight" rating on the stock. Bank of America cut their target price on Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Needham & Company LLC reissued a "buy" rating and issued a $90.00 target price on shares of Vaxcyte in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group cut their target price on Vaxcyte from $138.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Vaxcyte has a consensus rating of "Buy" and an average price target of $136.50.

Vaxcyte Stock Down 4.2%

Shares of PCVX stock traded down $1.41 during trading hours on Friday, hitting $32.54. 1,763,863 shares of the company's stock traded hands, compared to its average volume of 1,367,883. The stock's fifty day simple moving average is $38.53 and its two-hundred day simple moving average is $69.43. Vaxcyte, Inc. has a 12-month low of $27.66 and a 12-month high of $121.06. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of -7.07 and a beta of 1.27.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released 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 quarter in the previous year, the firm posted ($0.85) EPS. On average, equities analysts forecast 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.