Lord Abbett & CO. LLC Boosts Stock Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Lord Abbett & CO. LLC lifted its stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 26.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 312,425 shares of the company’s stock after purchasing an additional 66,183 shares during the quarter. Lord Abbett & CO. LLC owned 0.25% of Vaxcyte worth $35,701,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PCVX. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Vaxcyte in the second quarter worth $202,000. Assenagon Asset Management S.A. purchased a new stake in shares of Vaxcyte during the 2nd quarter valued at $213,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Vaxcyte in the second quarter valued at $342,000. Raymond James & Associates increased its position in shares of Vaxcyte by 4.7% during the 2nd quarter. Raymond James & Associates now owns 69,437 shares of the company’s stock valued at $5,243,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Vaxcyte by 64.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,099 shares of the company’s stock worth $158,000 after buying an additional 825 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Stock Down 0.2 %

Vaxcyte stock opened at $87.72 on Friday. The stock’s 50 day moving average is $101.11 and its 200 day moving average is $91.68. The company has a market capitalization of $10.93 billion, a P/E ratio of -19.07 and a beta of 0.94. Vaxcyte, Inc. has a twelve month low of $53.83 and a twelve month high of $121.06.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.27. During the same quarter in the previous year, the company earned ($0.91) EPS. As a group, equities analysts expect that Vaxcyte, Inc. will post -4.14 EPS for the current year.

Insider Activity

In related news, SVP Mikhail Eydelman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $109.27, for a total transaction of $546,350.00. Following the completion of the sale, the senior vice president now directly owns 28,623 shares in the company, valued at approximately $3,127,635.21. The trade was a 14.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $115.94, for a total transaction of $927,520.00. Following the transaction, the chief financial officer now owns 90,383 shares in the company, valued at $10,479,005.02. This represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,830 shares of company stock valued at $12,600,310 over the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PCVX. Bank of America increased their target price on shares of Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Vaxcyte in a research note on Wednesday, November 6th. Jefferies Financial Group upped their price target on shares of Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Leerink Partners raised their price target on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Finally, Mizuho upped their price objective on shares of Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $147.50.

Vaxcyte 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.