TD Asset Management Inc Purchases 236,188 Shares of Vaxcyte, Inc. $PCVX

Key Points

• TD Asset Management Inc increased its stake in Vaxcyte, Inc. by 77.8%, acquiring 236,188 shares in the second quarter, totaling about $17.5 million in value.
• Vaxcyte's stock has seen a decline of 2.8%, with current trading at $42.39, and analysts anticipate a negative earnings report for the upcoming fiscal year.
• The company has a strong institutional backing with 96.78% of its stock held by institutional investors, indicating confidence in its long-term prospects.

TD Asset Management Inc boosted its holdings in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 77.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 539,784 shares of the company's stock after acquiring an additional 236,188 shares during the quarter. TD Asset Management Inc owned 0.42% of Vaxcyte worth $17,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PCVX. AlphaQuest LLC purchased a new position in shares of Vaxcyte in the first quarter worth $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Vaxcyte in the 1st quarter worth about $35,000. CWM LLC raised its position in Vaxcyte by 197.3% in the 2nd quarter. CWM LLC now owns 1,680 shares of the company's stock worth $55,000 after buying an additional 1,115 shares during the last quarter. IFP Advisors Inc lifted its stake in Vaxcyte by 376.4% during the 1st quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock valued at $62,000 after acquiring an additional 1,306 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Vaxcyte by 176.7% during the 2nd quarter. Blue Trust Inc. now owns 2,161 shares of the company's stock valued at $70,000 after acquiring an additional 1,380 shares during the last quarter. Institutional investors own 96.78% of the company's stock.

Vaxcyte Stock Down 2.8%

Vaxcyte stock opened at $42.39 on Friday. Vaxcyte, Inc. has a 52-week low of $27.66 and a 52-week high of $116.53. The company has a market cap of $5.50 billion, a P/E ratio of -10.31 and a beta of 1.12. The business has a 50-day simple moving average of $34.60 and a two-hundred day simple moving average of $33.72.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.22) earnings per share 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. Research analysts anticipate that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Cowen reissued a "buy" rating on shares of Vaxcyte in a report on Thursday, August 7th. The Goldman Sachs Group initiated coverage on shares of Vaxcyte in a research report on Friday, September 12th. They issued a "neutral" rating and a $38.00 target price for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Vaxcyte in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Vaxcyte presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.25.

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.

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