Russell Investments Group Ltd. Boosts Holdings in Vaxcyte, Inc. $PCVX

Key Points

• Russell Investments Group Ltd. increased its stake in Vaxcyte, Inc. by 84.1% during the 1st quarter, owning approximately 0.15% of the company worth $7.54 million after the acquisition.
• Vaxcyte has a market capitalization of $4.12 billion with a 52-week stock range of $27.66 to $121.06, indicating significant volatility.
• The company reported earnings of ($1.22) per share for the latest quarter, missing analysts' estimates, as it continues to develop novel protein vaccines.

Russell Investments Group Ltd. lifted its position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 84.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 199,590 shares of the company's stock after purchasing an additional 91,201 shares during the period. Russell Investments Group Ltd. owned about 0.15% of Vaxcyte worth $7,537,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in Vaxcyte in the first quarter valued at $20,988,000. Invesco Ltd. boosted its holdings in Vaxcyte by 7.7% in the first quarter. Invesco Ltd. now owns 1,255,827 shares of the company's stock valued at $47,420,000 after acquiring an additional 89,773 shares in the last quarter. Citigroup Inc. boosted its holdings in Vaxcyte by 63.8% in the first quarter. Citigroup Inc. now owns 621,079 shares of the company's stock valued at $23,452,000 after acquiring an additional 241,871 shares in the last quarter. CenterBook Partners LP boosted its holdings in Vaxcyte by 9.8% in the first quarter. CenterBook Partners LP now owns 25,646 shares of the company's stock valued at $968,000 after acquiring an additional 2,279 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Vaxcyte by 0.7% in the first quarter. Vanguard Group Inc. now owns 12,043,805 shares of the company's stock valued at $454,774,000 after acquiring an additional 82,118 shares in the last quarter. Institutional investors 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 report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Vaxcyte presently has an average rating of "Buy" and an average price target of $136.50.

Vaxcyte Stock Down 5.7%

Shares of PCVX stock traded down $1.84 during mid-day trading on Monday, reaching $30.45. 1,866,803 shares of the company's stock traded hands, compared to its average volume of 1,390,795. Vaxcyte, Inc. has a 12 month low of $27.66 and a 12 month high of $121.06. The company has a market cap of $3.95 billion, a P/E ratio of -7.41 and a beta of 1.21. The company's 50-day moving average price is $33.56 and its 200-day moving average price is $43.70.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its 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 previous year, the company posted ($1.10) EPS. Equities analysts predict that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Vaxcyte 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.