The Manufacturers Life Insurance Company Has $17.94 Million Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

The Manufacturers Life Insurance Company grew its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 19.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,024 shares of the company’s stock after acquiring an additional 25,275 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.13% of Vaxcyte worth $17,943,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Vaxcyte by 47.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,837 shares of the company’s stock valued at $148,075,000 after purchasing an additional 419,600 shares in the last quarter. Maverick Capital Ltd. increased its position in shares of Vaxcyte by 93.7% during the second quarter. Maverick Capital Ltd. now owns 687,908 shares of the company’s stock worth $51,944,000 after acquiring an additional 332,777 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Vaxcyte by 625.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 343,552 shares of the company’s stock worth $25,942,000 after acquiring an additional 296,164 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Vaxcyte during the 3rd quarter valued at about $30,752,000. Finally, Clearbridge Investments LLC acquired a new position in Vaxcyte during the 2nd quarter valued at about $14,056,000. 96.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PCVX shares. Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. Mizuho raised their price objective on Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Vaxcyte in a research note on Wednesday, November 6th. Leerink Partners raised their price target on shares of Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Finally, BTIG Research increased their price objective on shares of Vaxcyte from $98.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $147.50.

Vaxcyte Stock Performance

Shares of PCVX stock opened at $94.34 on Monday. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of -20.51 and a beta of 1.01. Vaxcyte, Inc. has a 52 week low of $50.04 and a 52 week high of $121.06. The firm’s 50-day simple moving average is $105.60 and its two-hundred day simple moving average is $90.49.

Vaxcyte (NASDAQ:PCVX) last posted 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 period in the previous year, the company posted ($0.91) earnings per share. Analysts forecast that Vaxcyte, Inc. will post -4.14 earnings per share for the current year.

Insider Transactions at Vaxcyte

In other news, CEO Grant Pickering sold 2,366 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $103.89, for a total value of $245,803.74. Following the sale, the chief executive officer now owns 137,398 shares of the company’s stock, valued at $14,274,278.22. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Elvia Cowan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $107.67, for a total transaction of $538,350.00. Following the completion of the transaction, the senior vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,464 shares of company stock worth $11,455,576. 3.10% of the stock is owned by company insiders.

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.