Paradigm Biocapital Advisors LP Purchases 273,694 Shares of Vaxcyte, Inc. $PCVX

Key Points

• Paradigm Biocapital Advisors LP increased its stake in Vaxcyte, Inc. by 19.2%, now owning 1,696,481 shares which represent 3.0% of its portfolio.
• Vaxcyte's stock is rated as a strong buy by one analyst and has a consensus rating of "Buy" with an average price target of $136.50.
• The company reported a loss of ($1.22) EPS for the last quarter, missing analyst estimates and showing a decline from the previous year's loss of ($1.10) EPS.

Paradigm Biocapital Advisors LP raised its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,696,481 shares of the company's stock after acquiring an additional 273,694 shares during the period. Vaxcyte makes up 3.0% of Paradigm Biocapital Advisors LP's investment portfolio, making the stock its 10th biggest holding. Paradigm Biocapital Advisors LP owned 1.32% of Vaxcyte worth $64,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. AlphaQuest LLC acquired a new position in shares of Vaxcyte in the first quarter valued at approximately $33,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Vaxcyte in the first quarter valued at approximately $35,000. Parallel Advisors LLC grew its holdings in Vaxcyte by 203.6% during the first quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock worth $61,000 after acquiring an additional 1,071 shares during the period. IFP Advisors Inc grew its holdings in 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 acquiring an additional 1,306 shares during the period. Finally, Twin Tree Management LP grew its holdings in Vaxcyte by 301.3% during the first quarter. Twin Tree Management LP now owns 2,365 shares of the company's stock worth $89,000 after acquiring an additional 3,540 shares during the period. Institutional investors and hedge funds own 96.78% of the company's stock.

Analyst Ratings Changes

Separately, Cowen reaffirmed 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 seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $130.00.

Vaxcyte Trading Up 3.3%

Shares of Vaxcyte stock traded up $1.05 during trading hours on Friday, reaching $33.20. 460,108 shares of the company's stock were exchanged, compared to its average volume of 1,753,458. Vaxcyte, Inc. has a 52-week low of $27.66 and a 52-week high of $121.06. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -8.03 and a beta of 1.04. The company has a fifty day moving average of $33.21 and a 200-day moving average of $41.31.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its earnings results 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 firm posted ($1.10) earnings per share. On average, equities research analysts anticipate that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

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.