T. Rowe Price Investment Management Inc. Has $102.05 Million Position in Vaxcyte, Inc. $PCVX

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Vaxcyte, Inc. by 5.5% during the first quarter, now holding 2,702,691 shares valued at approximately $102 million.
• Wellington Management Group LLP significantly increased its position in Vaxcyte by 44.4%, making it one of the largest stakeholders with 6,416,930 shares worth around $242 million.
• Vaxcyte's stock has an average rating of “Buy” from analysts, with a price target of $136.50, despite the recent earnings miss of ($1.22) per share compared to the consensus estimate.

T. Rowe Price Investment Management Inc. trimmed its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,702,691 shares of the company's stock after selling 158,026 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.10% of Vaxcyte worth $102,054,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Vaxcyte during the first quarter valued at about $35,000. Parallel Advisors LLC grew its stake in shares of 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 acquiring an additional 1,071 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Vaxcyte by 376.4% during the first quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock worth $62,000 after purchasing an additional 1,306 shares during the last quarter. Nisa Investment Advisors LLC lifted 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 worth $112,000 after purchasing an additional 293 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in Vaxcyte by 65.8% in the first quarter. J.Safra Asset Management Corp now owns 3,161 shares of the company's stock worth $119,000 after acquiring an additional 1,254 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Cowen reaffirmed a "buy" rating on shares of Vaxcyte in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $136.50.

Vaxcyte Price Performance

Vaxcyte stock traded up $0.01 during midday trading on Wednesday, reaching $30.26. The stock had a trading volume of 544,496 shares, compared to its average volume of 1,763,435. The firm's fifty day simple moving average is $33.49 and its two-hundred day simple moving average is $43.61. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of -7.36 and a beta of 1.21. Vaxcyte, Inc. has a twelve month low of $27.66 and a twelve month high of $121.06.

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 the consensus estimate of ($1.12) by ($0.10). During the same period in the previous year, the company posted ($1.10) EPS. As a group, sell-side analysts predict that Vaxcyte, Inc. will post -4.21 EPS 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.