Vaxcyte (NASDAQ:PCVX) Shares Up 4.6% - Time to Buy?

Key Points

• Vaxcyte's shares increased by 4.6% recently, with the stock trading at $43.91, following higher than average trading volume.
• Analysts have mixed ratings on the stock, with a consensus of "Moderate Buy" and an average price target of $106.25, despite the company missing earnings expectations.
• Institutional investors hold a significant stake in Vaxcyte, with 96.78% of the company's stock owned by large investors, reflecting growing institutional confidence.

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) shares rose 4.6% on Friday . The stock traded as high as $43.60 and last traded at $43.91. Approximately 1,812,750 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 1,789,426 shares. The stock had previously closed at $41.99.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCVX. Cowen restated a "buy" rating on shares of Vaxcyte in a report on Thursday, August 7th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Vaxcyte in a report on Saturday, September 27th. Finally, The Goldman Sachs Group assumed coverage on Vaxcyte in a report on Friday, September 12th. They issued a "neutral" rating and a $38.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Vaxcyte presently has a consensus rating of "Moderate Buy" and an average price target of $106.25.

Vaxcyte Stock Performance

The business's 50 day moving average is $33.26 and its 200 day moving average is $34.34. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of -10.67 and a beta of 1.12.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($1.22) EPS 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 expect that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Institutional Investors Weigh In On Vaxcyte

Large investors have recently made changes to their positions in the stock. RA Capital Management L.P. lifted its stake in Vaxcyte by 40.3% in the first quarter. RA Capital Management L.P. now owns 12,189,149 shares of the company's stock valued at $460,262,000 after acquiring an additional 3,499,959 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Vaxcyte by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 12,043,805 shares of the company's stock worth $454,774,000 after buying an additional 82,118 shares during the last quarter. Wellington Management Group LLP increased its position in Vaxcyte by 44.4% during the first quarter. Wellington Management Group LLP now owns 6,416,930 shares of the company's stock worth $242,303,000 after acquiring an additional 1,972,918 shares during the period. State Street Corp increased its position in Vaxcyte by 12.1% during the second quarter. State Street Corp now owns 4,942,235 shares of the company's stock worth $160,672,000 after acquiring an additional 534,552 shares during the period. Finally, Westfield Capital Management Co. LP increased its holdings in Vaxcyte by 42.4% in the 2nd quarter. Westfield Capital Management Co. LP now owns 3,068,898 shares of the company's stock valued at $99,770,000 after buying an additional 913,761 shares during the period. Institutional investors own 96.78% of the company's stock.

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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