Vaxcyte, Inc. $PCVX Stock Position Raised by Paradigm Biocapital Advisors LP

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 grew its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,696,481 shares of the company's stock after acquiring an additional 273,694 shares during the period. Vaxcyte accounts for approximately 3.0% of Paradigm Biocapital Advisors LP's portfolio, making the stock its 10th largest holding. Paradigm Biocapital Advisors LP owned 1.32% of Vaxcyte worth $64,059,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC purchased a new stake in shares of Vaxcyte during the first quarter worth $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Vaxcyte during the first quarter worth $35,000. Parallel Advisors LLC increased its holdings in shares of Vaxcyte by 203.6% in the first 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 increased its holdings in shares of Vaxcyte by 376.4% in 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 period. Finally, Twin Tree Management LP increased its holdings in shares of Vaxcyte by 301.3% in the first quarter. Twin Tree Management LP now owns 2,365 shares of the company's stock worth $89,000 after purchasing an additional 3,540 shares during the period. Hedge funds and other institutional investors own 96.78% of the company's stock.

Analyst Upgrades and Downgrades

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

Vaxcyte Stock Performance

Vaxcyte stock opened at $30.79 on Friday. The stock has a market cap of $4.00 billion, a P/E ratio of -7.49 and a beta of 1.21. Vaxcyte, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $121.06. The firm's fifty day moving average price is $33.34 and its 200-day moving average price is $42.46.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.22) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same quarter last year, the company earned ($1.10) earnings per share. Sell-side analysts predict that Vaxcyte, Inc. will post -4.21 earnings per share for the current 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.

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