Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 24.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,649 shares of the company’s stock after acquiring an additional 1,120 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Vaxcyte were worth $646,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Vaxcyte by 15.2% during the 1st quarter. Vanguard Group Inc. now owns 9,737,254 shares of the company’s stock worth $665,152,000 after purchasing an additional 1,284,883 shares in the last quarter. RA Capital Management L.P. increased its position in Vaxcyte by 4.0% during the first quarter. RA Capital Management L.P. now owns 8,203,754 shares of the company’s stock worth $560,398,000 after buying an additional 312,500 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Vaxcyte by 9.9% in the first quarter. Janus Henderson Group PLC now owns 7,673,868 shares of the company’s stock worth $524,117,000 after acquiring an additional 692,492 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Vaxcyte by 20.4% in the first quarter. Capital Research Global Investors now owns 4,140,521 shares of the company’s stock valued at $282,839,000 after acquiring an additional 700,414 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Vaxcyte by 18.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,176,181 shares of the company’s stock valued at $216,966,000 after acquiring an additional 498,359 shares during the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Vaxcyte Stock Up 0.7 %

Shares of NASDAQ PCVX opened at $87.08 on Wednesday. The stock has a market capitalization of $10.85 billion, a PE ratio of -18.93 and a beta of 1.01. The firm has a fifty day moving average of $109.51 and a 200-day moving average of $89.13. Vaxcyte, Inc. has a 52-week low of $48.24 and a 52-week high of $121.06.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.27. During the same period last year, the firm posted ($0.91) earnings per share. Equities research analysts expect that Vaxcyte, Inc. will post -4.14 EPS for the current fiscal year.

Insider Activity

In other news, SVP Elvia Cowan sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $107.67, for a total value of $538,350.00. Following the transaction, the senior vice president now owns 12,723 shares of the company’s stock, valued at approximately $1,369,885.41. This trade represents a 28.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Grant Pickering sold 2,366 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $103.89, for a total transaction of $245,803.74. Following the sale, the chief executive officer now directly owns 137,398 shares of the company’s stock, valued at approximately $14,274,278.22. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,464 shares of company stock valued at $12,640,276 in the last three months. Corporate insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Bank of America boosted their target price on shares of Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Leerink Partners upped their price objective on shares of Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. BTIG Research lifted their target price on shares of Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Mizuho increased their price target on Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group lifted their price objective on Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte 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.