Raymond James Financial Inc. Takes $21.67 Million Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Raymond James Financial Inc. acquired a new stake in Vaxcyte, Inc. (NASDAQ:PCVX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 264,704 shares of the company’s stock, valued at approximately $21,669,000. Raymond James Financial Inc. owned 0.21% of Vaxcyte as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of PCVX. Whipplewood Advisors LLC acquired a new position in shares of Vaxcyte in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC increased its holdings in shares of Vaxcyte by 188.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 260 shares during the period. Blue Trust Inc. grew its holdings in Vaxcyte by 100.0% during the fourth quarter. Blue Trust Inc. now owns 742 shares of the company’s stock worth $61,000 after acquiring an additional 371 shares during the period. Assetmark Inc. grew its holdings in Vaxcyte by 77,500.0% during the fourth quarter. Assetmark Inc. now owns 776 shares of the company’s stock worth $64,000 after acquiring an additional 775 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in Vaxcyte by 1,007.9% during the third quarter. Meeder Asset Management Inc. now owns 698 shares of the company’s stock worth $80,000 after acquiring an additional 635 shares during the period. 96.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $88.78, for a total value of $710,240.00. Following the transaction, the chief financial officer now owns 109,491 shares in the company, valued at $9,720,610.98. This trade represents a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Teri Loxam sold 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total value of $531,937.50. Following the completion of the transaction, the director now owns 7,175 shares in the company, valued at approximately $610,664.25. This trade represents a 46.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,250 shares of company stock worth $4,550,258 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Vaxcyte Trading Up 1.8 %

Shares of PCVX stock opened at $74.37 on Friday. The company has a market capitalization of $9.58 billion, a P/E ratio of -16.17 and a beta of 1.02. The business’s 50 day moving average is $82.24 and its two-hundred day moving average is $94.36. Vaxcyte, Inc. has a 12-month low of $58.10 and a 12-month high of $121.06.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.14. On average, research analysts predict that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Vaxcyte in a report on Friday, December 20th. They set a “buy” rating and a $135.00 target price on the stock. Guggenheim reaffirmed a “buy” rating and set a $160.00 target price on shares of Vaxcyte in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Vaxcyte in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vaxcyte currently has an average rating of “Buy” and a consensus target price 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.