JPMorgan Chase & Co. Acquires 366,266 Shares of Vaxcyte, Inc. $PCVX

JPMorgan Chase & Co. boosted its holdings in Vaxcyte, Inc. (NASDAQ:PCVX) by 30.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,565,036 shares of the company’s stock after purchasing an additional 366,266 shares during the quarter. JPMorgan Chase & Co. owned about 1.20% of Vaxcyte worth $56,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PCVX. Aster Capital Management DIFC Ltd bought a new stake in shares of Vaxcyte in the 3rd quarter worth approximately $45,000. CIBC Private Wealth Group LLC increased its position in Vaxcyte by 22,500.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company’s stock valued at $49,000 after buying an additional 1,350 shares in the last quarter. Danske Bank A S bought a new position in Vaxcyte during the 3rd quarter valued at approximately $76,000. CWM LLC raised its stake in Vaxcyte by 55.1% during the third quarter. CWM LLC now owns 2,606 shares of the company’s stock valued at $94,000 after buying an additional 926 shares during the last quarter. Finally, Virtus Investment Advisers LLC raised its stake in Vaxcyte by 45.8% during the second quarter. Virtus Investment Advisers LLC now owns 2,729 shares of the company’s stock valued at $89,000 after buying an additional 857 shares during the last quarter. Institutional investors own 96.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PCVX. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Friday, January 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Vaxcyte in a research report on Tuesday, March 10th. BTIG Research upped their price target on shares of Vaxcyte from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Guggenheim reissued a “buy” rating and set a $116.00 price objective on shares of Vaxcyte in a research report on Monday, February 2nd. Finally, Needham & Company LLC raised their price objective on shares of Vaxcyte from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Vaxcyte currently has an average rating of “Moderate Buy” and an average target price of $94.50.

Insider Activity at Vaxcyte

In other Vaxcyte news, CAO Elvia Cowan sold 1,892 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $55.57, for a total transaction of $105,138.44. Following the transaction, the chief accounting officer owned 28,975 shares in the company, valued at approximately $1,610,140.75. This represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jim Wassil sold 7,395 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $58.88, for a total transaction of $435,417.60. Following the sale, the chief operating officer directly owned 166,818 shares in the company, valued at approximately $9,822,243.84. The trade was a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 33,153 shares of company stock valued at $1,698,906 over the last ninety days. Insiders own 3.10% of the company’s stock.

Vaxcyte Trading Down 0.6%

Shares of PCVX opened at $53.98 on Friday. The business’s fifty day simple moving average is $54.83 and its two-hundred day simple moving average is $46.47. Vaxcyte, Inc. has a 12 month low of $27.66 and a 12 month high of $76.61. The company has a market cap of $7.77 billion, a price-to-earnings ratio of -9.60 and a beta of 1.31.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Tuesday, February 24th. The company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.34). During the same period last year, the company earned ($1.12) earnings per share. As a group, research analysts forecast that Vaxcyte, Inc. will post -4.21 EPS for the current year.

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.