Nuveen LLC Acquires Shares of 555,832 Vaxcyte, Inc. $PCVX

Key Points

• Nuveen LLC has invested approximately $20.99 million in Vaxcyte, acquiring 555,832 shares, representing about 0.43% of the company.
• Vaxcyte recently posted a quarterly earnings miss, reporting an EPS of ($1.22) against the consensus estimate of ($1.12), showing ongoing challenges in its financial performance.
• Analysts maintain a consensus rating of "Buy" for Vaxcyte shares, with an average price target of $136.50, indicating potential for significant upside.

Nuveen LLC purchased a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 555,832 shares of the company's stock, valued at approximately $20,988,000. Nuveen LLC owned approximately 0.43% of Vaxcyte at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PCVX. Parallel Advisors LLC boosted its position in Vaxcyte by 203.6% during the first 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 in the last quarter. IFP Advisors Inc boosted its position in Vaxcyte by 376.4% during the first 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 in the last quarter. Nisa Investment Advisors LLC boosted its position in Vaxcyte by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company's stock valued at $112,000 after purchasing an additional 293 shares in the last quarter. J.Safra Asset Management Corp boosted its position in Vaxcyte by 65.8% during the first quarter. J.Safra Asset Management Corp now owns 3,161 shares of the company's stock valued at $119,000 after purchasing an additional 1,254 shares in the last quarter. Finally, GF Fund Management CO. LTD. boosted its position in Vaxcyte by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 3,192 shares of the company's stock valued at $121,000 after purchasing an additional 575 shares in the last quarter. Institutional investors own 96.78% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Cowen reaffirmed 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 ten have issued a Buy rating to the company. According to data from MarketBeat, Vaxcyte currently has an average rating of "Buy" and an average price target of $136.50.

Vaxcyte Price Performance

Vaxcyte stock traded down $1.84 during midday trading on Monday, reaching $30.45. The company's stock had a trading volume of 1,866,803 shares, compared to its average volume of 1,390,795. The stock's 50-day simple moving average is $33.56 and its 200-day simple moving average is $43.70. 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 $3.95 billion, a P/E ratio of -7.41 and a beta of 1.21.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($1.22) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same quarter in the prior year, the firm posted ($1.10) earnings per share. As a group, equities research analysts expect that Vaxcyte, Inc. will post -4.21 earnings per share 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.