Sumitomo Mitsui Trust Group Inc. Boosts Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

Sumitomo Mitsui Trust Group Inc. increased its position in Vaxcyte, Inc. (NASDAQ:PCVX) by 24.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,649 shares of the company’s stock after purchasing 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.

A number of other large investors have also added to or reduced their stakes in PCVX. Blue Trust Inc. lifted its holdings in Vaxcyte by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company’s stock worth $42,000 after buying an additional 93 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Vaxcyte by 5.2% during the third quarter. Nisa Investment Advisors LLC now owns 2,209 shares of the company’s stock worth $252,000 after acquiring an additional 110 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Vaxcyte by 4.2% in the second quarter. Amalgamated Bank now owns 3,759 shares of the company’s stock worth $284,000 after acquiring an additional 150 shares in the last quarter. Riverview Trust Co purchased a new position in Vaxcyte in the third quarter valued at about $27,000. Finally, AQR Capital Management LLC grew its stake in Vaxcyte by 3.1% during the 2nd quarter. AQR Capital Management LLC now owns 10,860 shares of the company’s stock valued at $820,000 after purchasing an additional 328 shares in the last quarter. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Price Performance

PCVX stock opened at $87.08 on Wednesday. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of -18.93 and a beta of 1.01. Vaxcyte, Inc. has a 1-year low of $48.24 and a 1-year high of $121.06. The firm has a fifty day moving average price of $109.51 and a two-hundred day moving average price of $89.13.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings results 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 quarter last year, the business earned ($0.91) earnings per share. As a group, analysts expect that Vaxcyte, Inc. will post -4.14 EPS for the current fiscal year.

Insider Buying and Selling at Vaxcyte

In related news, CEO Grant Pickering sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $78.98, for a total value of $1,184,700.00. Following the sale, the chief executive officer now owns 478,888 shares of the company’s stock, valued at approximately $37,822,574.24. This trade represents a 3.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Guggenhime sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total value of $927,520.00. Following the transaction, the chief financial officer now owns 90,383 shares of the company’s stock, valued at $10,479,005.02. This represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,464 shares of company stock worth $12,640,276 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Jefferies Financial Group upped their target price on Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Vaxcyte in a report on Wednesday, November 6th. Leerink Partners increased 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. Mizuho boosted their target price on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Bank of America increased their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $147.50.

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.