The Manufacturers Life Insurance Company Acquires Shares of 108,504 Vaxcyte, Inc. $PCVX

Key Points

• The Manufacturers Life Insurance Company acquired 108,504 Vaxcyte shares worth approximately $6.3 million, representing about 0.07% of the company. Institutional investors and hedge funds collectively own 96.78% of Vaxcyte.
• Vaxcyte reported a quarterly loss of $1.97 per share, beating analysts’ expected loss of $2.06. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $86, compared with the stock’s $59.83 opening price.
• Company insiders sold 118,396 shares worth approximately $6.46 million during the latest quarter, including sales by the CEO and CFO conducted under pre-arranged Rule 10b5-1 plans.

The Manufacturers Life Insurance Company acquired a new stake in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 108,504 shares of the company's stock, valued at approximately $6,307,000. The Manufacturers Life Insurance Company owned approximately 0.07% of Vaxcyte at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Janus Henderson Group PLC grew its stake in Vaxcyte by 23.8% in the 1st quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company's stock valued at $960,231,000 after acquiring an additional 3,188,687 shares during the period. BlackRock Inc. purchased a new position in Vaxcyte during the second quarter valued at $701,520,000. T. Rowe Price Investment Management Inc. lifted its holdings in Vaxcyte by 35.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company's stock valued at $521,213,000 after purchasing an additional 2,981,038 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Vaxcyte by 18.5% in the fourth quarter. Wellington Management Group LLP now owns 5,966,310 shares of the company's stock valued at $275,286,000 after purchasing an additional 933,539 shares during the period. Finally, State Street Corp increased its stake in shares of Vaxcyte by 4.1% during the fourth quarter. State Street Corp now owns 4,980,005 shares of the company's stock worth $229,777,000 after purchasing an additional 194,116 shares in the last quarter. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Stock Down 0.0%

Vaxcyte stock opened at $59.83 on Monday. Vaxcyte, Inc. has a 52-week low of $30.32 and a 52-week high of $65.00. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of -7.84 and a beta of 1.23. The company has a fifty day simple moving average of $57.48 and a 200-day simple moving average of $55.99.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, topping the consensus estimate of ($2.06) by $0.09. During the same quarter in the previous year, the company earned ($1.22) earnings per share. On average, research analysts anticipate that Vaxcyte, Inc. will post -7.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Vaxcyte from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Zacks Research upgraded Vaxcyte from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Vaxcyte in a research note on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Vaxcyte has a consensus rating of "Moderate Buy" and a consensus target price of $86.00.

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $55.65, for a total value of $111,300.00. Following the transaction, the chief executive officer directly owned 133,215 shares of the company's stock, valued at $7,413,414.75. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Guggenhime sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $53.89, for a total value of $538,900.00. Following the transaction, the chief financial officer owned 105,176 shares in the company, valued at approximately $5,667,934.64. This represents a 8.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 118,396 shares of company stock worth $6,459,390 in the last quarter. Insiders own 3.30% of the company's stock.

Vaxcyte Profile

Vaxcyte, Inc NASDAQ: PCVX is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company's platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte's lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.

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