abrdn plc Buys Shares of 194,232 Vaxcyte, Inc. (NASDAQ:PCVX)

abrdn plc bought a new position in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 194,232 shares of the company's stock, valued at approximately $12,198,000. abrdn plc owned approximately 0.20% of Vaxcyte as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in Vaxcyte by 1,005.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,603 shares of the company's stock worth $1,419,000 after buying an additional 20,558 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Vaxcyte during the 4th quarter worth $3,035,000. Wellington Management Group LLP raised its position in shares of Vaxcyte by 3.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,598,712 shares of the company's stock valued at $234,442,000 after purchasing an additional 167,501 shares during the period. Jennison Associates LLC raised its position in shares of Vaxcyte by 20.6% during the 3rd quarter. Jennison Associates LLC now owns 1,754,691 shares of the company's stock valued at $89,454,000 after purchasing an additional 300,189 shares during the period. Finally, UBS Group AG raised its position in shares of Vaxcyte by 62.2% during the 3rd quarter. UBS Group AG now owns 74,305 shares of the company's stock valued at $3,788,000 after purchasing an additional 28,483 shares during the period. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Vaxcyte news, SVP Mikhail Eydelman sold 1,667 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $73.87, for a total transaction of $123,141.29. Following the sale, the senior vice president now owns 20,710 shares of the company's stock, valued at $1,529,847.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Mikhail Eydelman sold 1,667 shares of Vaxcyte stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $73.87, for a total value of $123,141.29. Following the transaction, the senior vice president now directly owns 20,710 shares of the company's stock, valued at approximately $1,529,847.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Heath Lukatch sold 4,000 shares of the business's stock in a transaction on Monday, January 29th. The shares were sold at an average price of $67.50, for a total transaction of $270,000.00. Following the completion of the transaction, the director now directly owns 5,625 shares in the company, valued at $379,687.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,577 shares of company stock valued at $7,400,635. 3.60% of the stock is currently owned by company insiders.

Vaxcyte Stock Performance

NASDAQ PCVX traded up $0.66 during mid-day trading on Friday, reaching $60.72. 594,302 shares of the stock were exchanged, compared to its average volume of 838,980. The company has a market capitalization of $6.60 billion, a P/E ratio of -14.70 and a beta of 0.89. Vaxcyte, Inc. has a 1 year low of $41.57 and a 1 year high of $82.04. The business's 50 day moving average is $67.96 and its 200-day moving average is $61.36.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.93). During the same period in the previous year, the business posted ($0.73) EPS. Equities analysts predict that Vaxcyte, Inc. will post -4.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Vaxcyte in a report on Friday, January 12th. Bank of America boosted their price objective on shares of Vaxcyte from $67.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, January 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price target on shares of Vaxcyte in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $78.50.

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.