Norges Bank Invests $56.70 Million in Vaxcyte, Inc. $PCVX

Norges Bank purchased a new position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,228,939 shares of the company’s stock, valued at approximately $56,703,000. Norges Bank owned 0.94% of Vaxcyte as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Vaxcyte by 2.7% during the third quarter. Vanguard Group Inc. now owns 12,320,453 shares of the company’s stock worth $443,783,000 after purchasing an additional 323,368 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Vaxcyte by 1.6% in the 3rd quarter. Wellington Management Group LLP now owns 5,032,771 shares of the company’s stock valued at $181,280,000 after purchasing an additional 77,967 shares during the last quarter. State Street Corp grew its stake in shares of Vaxcyte by 12.1% in the 2nd quarter. State Street Corp now owns 4,942,235 shares of the company’s stock valued at $160,672,000 after buying an additional 534,552 shares during the period. Paradigm Biocapital Advisors LP increased its holdings in shares of Vaxcyte by 12.2% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 3,784,755 shares of the company’s stock worth $136,327,000 after buying an additional 411,918 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in Vaxcyte by 21.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,732,715 shares of the company’s stock valued at $134,452,000 after acquiring an additional 663,817 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Stock Performance

PCVX stock opened at $47.36 on Monday. The company has a market capitalization of $6.84 billion, a PE ratio of -6.88 and a beta of 1.24. Vaxcyte, Inc. has a 12-month low of $29.08 and a 12-month high of $65.00. The business’s fifty day moving average price is $55.20 and its 200 day moving average price is $52.75.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Wednesday, May 6th. The company reported ($2.30) earnings per share for the quarter, missing the consensus estimate of ($1.74) by ($0.56). During the same quarter in the prior year, the business earned ($1.04) earnings per share. Research analysts predict that Vaxcyte, Inc. will post -7.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Vaxcyte news, COO Jim Wassil sold 7,395 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $58.88, for a total value of $435,417.60. Following the completion of the transaction, the chief operating officer owned 166,818 shares of the company’s stock, valued at $9,822,243.84. This trade represents a 4.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Elvia Cowan sold 3,000 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the completion of the transaction, the chief accounting officer owned 28,975 shares of the company’s stock, valued at approximately $1,738,500. This trade represents a 9.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,287 shares of company stock valued at $1,106,319 in the last 90 days. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PCVX. Wall Street Zen cut Vaxcyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research report on Wednesday, April 8th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Vaxcyte in a research report on Tuesday, March 10th. Finally, BTIG Research lifted their price target on shares of Vaxcyte from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

About Vaxcyte

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.