The Manufacturers Life Insurance Company Purchases 25,275 Shares of Vaxcyte, Inc. (NASDAQ:PCVX)

The Manufacturers Life Insurance Company raised its position in Vaxcyte, Inc. (NASDAQ:PCVX) by 19.2% in the 3rd quarter, Holdings Channel reports. The firm owned 157,024 shares of the company’s stock after buying an additional 25,275 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Vaxcyte were worth $17,943,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PCVX. China Universal Asset Management Co. Ltd. increased its position in shares of Vaxcyte by 68.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 21,466 shares of the company’s stock worth $2,453,000 after purchasing an additional 8,685 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Vaxcyte by 392.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 40,342 shares of the company’s stock worth $3,046,000 after buying an additional 32,149 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Vaxcyte by 61.1% during the 3rd quarter. Natixis Advisors LLC now owns 22,697 shares of the company’s stock valued at $2,594,000 after buying an additional 8,606 shares in the last quarter. Tri Locum Partners LP bought a new stake in shares of Vaxcyte during the 2nd quarter worth $8,559,000. Finally, Hsbc Holdings PLC purchased a new position in Vaxcyte in the second quarter worth $1,053,000. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PCVX. Bank of America raised their price target on Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Jefferies Financial Group upped their target price on Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Mizuho lifted their price target on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. 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. Finally, 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 report on Tuesday, September 3rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $147.50.

Vaxcyte Stock Up 0.4 %

NASDAQ PCVX opened at $94.34 on Monday. The stock’s 50 day moving average is $105.60 and its 200 day moving average is $90.49. The firm has a market capitalization of $11.76 billion, a PE ratio of -20.51 and a beta of 1.01. Vaxcyte, Inc. has a twelve month low of $50.04 and a twelve month high of $121.06.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.27. During the same quarter in the prior year, the business earned ($0.91) earnings per share. On average, research analysts anticipate that Vaxcyte, Inc. will post -4.14 earnings per share for the current year.

Insider Activity

In other 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 transaction, the senior vice president now directly owns 28,623 shares of the company’s stock, valued at $3,127,635.21. The trade was a 14.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Grant Pickering sold 2,366 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 137,398 shares in the company, valued at $14,274,278.22. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,464 shares of company stock worth $11,455,576 over the last 90 days. 3.10% of the stock is currently owned by 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.