PNC Financial Services Group Inc. Boosts Stake in Vaxcyte, Inc. (NASDAQ:PCVX)

PNC Financial Services Group Inc. increased its stake in Vaxcyte, Inc. (NASDAQ:PCVX) by 18.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,076 shares of the company’s stock after acquiring an additional 1,397 shares during the period. PNC Financial Services Group Inc.’s holdings in Vaxcyte were worth $743,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PCVX. Whipplewood Advisors LLC bought a new stake in Vaxcyte during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Vaxcyte by 188.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 398 shares of the company’s stock valued at $33,000 after buying an additional 260 shares in the last quarter. Blue Trust Inc. lifted its position in Vaxcyte by 100.0% in the 4th quarter. Blue Trust Inc. now owns 742 shares of the company’s stock worth $61,000 after buying an additional 371 shares during the last quarter. Assetmark Inc. boosted its stake in Vaxcyte by 77,500.0% in the fourth quarter. Assetmark Inc. now owns 776 shares of the company’s stock worth $64,000 after buying an additional 775 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in Vaxcyte by 1,007.9% during the third quarter. Meeder Asset Management Inc. now owns 698 shares of the company’s stock valued at $80,000 after acquiring an additional 635 shares during the last quarter. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Stock Performance

PCVX opened at $75.23 on Tuesday. The stock has a market capitalization of $9.69 billion, a PE ratio of -16.35 and a beta of 1.02. The stock’s 50 day moving average price is $82.02 and its 200-day moving average price is $94.45. Vaxcyte, Inc. has a 52-week low of $58.10 and a 52-week high of $121.06.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.14. Research analysts forecast that Vaxcyte, Inc. will post -4.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a report on Wednesday, February 26th. The Goldman Sachs Group began coverage on Vaxcyte in a research note on Friday, December 20th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, Guggenheim reissued a “buy” rating and issued a $160.00 target price on shares of Vaxcyte in a research note on Wednesday, March 12th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $147.50.

Insider Activity at Vaxcyte

In related news, Director Teri Loxam sold 6,250 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total value of $531,937.50. Following the sale, the director now directly owns 7,175 shares of the company’s stock, valued at $610,664.25. This represents a 46.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $88.78, for a total value of $710,240.00. Following the transaction, the chief financial officer now directly owns 109,491 shares of the company’s stock, valued at $9,720,610.98. This represents a 6.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,250 shares of company stock worth $4,550,258 over the last 90 days. 3.10% of the stock is owned by company insiders.

Vaxcyte Company 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.