Skandinaviska Enskilda Banken AB publ Acquires Shares of 9,350 Vaxcyte, Inc. (NASDAQ:PCVX)

Key Points

• Skandinaviska Enskilda Banken AB acquired a new stake in Vaxcyte, Inc., purchasing 9,350 shares valued at approximately $353,000 in the first quarter.
• Several hedge funds significantly increased their holdings in Vaxcyte during the same period, with 96.78% of the stock currently owned by institutional investors and hedge funds.
• Vaxcyte has received positive ratings from multiple analysts, with a consensus target price of $136.50 and nine analysts rating the stock as a buy.

Skandinaviska Enskilda Banken AB publ bought a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,350 shares of the company's stock, valued at approximately $353,000.

Several other institutional investors have also recently added to or reduced their stakes in PCVX. National Bank of Canada FI acquired a new position in Vaxcyte during the 4th quarter valued at about $41,000. Parallel Advisors LLC raised its holdings in shares of Vaxcyte by 203.6% in the 1st quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock worth $61,000 after purchasing an additional 1,071 shares during the period. IFP Advisors Inc grew its stake in Vaxcyte by 376.4% in the 1st quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock valued at $62,000 after buying an additional 1,306 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of 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 buying an additional 293 shares during the period. Finally, J.Safra Asset Management Corp boosted its holdings in Vaxcyte by 65.8% in the 1st 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 during the period. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Trading Up 0.4%

PCVX stock traded up $0.14 during midday trading on Wednesday, hitting $34.82. The company's stock had a trading volume of 990,221 shares, compared to its average volume of 1,148,064. Vaxcyte, Inc. has a 12 month low of $27.66 and a 12 month high of $121.06. The firm's 50-day moving average is $34.42 and its 200-day moving average is $51.33. The company has a market cap of $4.49 billion, a PE ratio of -8.73 and a beta of 1.19.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.02). During the same quarter in the previous year, the company earned ($0.85) earnings per share. Analysts expect that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PCVX shares. Bank of America reduced their target price on Vaxcyte from $157.00 to $137.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 target price on shares of Vaxcyte in a report on Tuesday, April 8th. The Goldman Sachs Group dropped their price target on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Cantor Fitzgerald started coverage on Vaxcyte in a report on Tuesday, April 22nd. They set an "overweight" rating for the company. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $136.50.

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.