DnB Asset Management AS Has $579,000 Position in Vaxcyte, Inc. (NASDAQ:PCVX)

DnB Asset Management AS increased its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 21.6% during the fourth quarter, HoldingsChannel reports. The fund owned 7,067 shares of the company’s stock after buying an additional 1,255 shares during the quarter. DnB Asset Management AS’s holdings in Vaxcyte were worth $579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in Vaxcyte in the fourth quarter valued at $28,000. Smartleaf Asset Management LLC lifted its stake in 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 buying an additional 260 shares during the period. Blue Trust Inc. boosted its position in shares of Vaxcyte by 100.0% during the 4th quarter. Blue Trust Inc. now owns 742 shares of the company’s stock worth $61,000 after purchasing an additional 371 shares in the last quarter. Assetmark Inc. boosted its holdings in Vaxcyte by 77,500.0% in the fourth quarter. Assetmark Inc. now owns 776 shares of the company’s stock worth $64,000 after acquiring an additional 775 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Vaxcyte in the third quarter valued at approximately $92,000. 96.78% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Teri Loxam sold 6,250 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total transaction of $531,937.50. Following the completion of the sale, the director now directly owns 7,175 shares in the company, valued at approximately $610,664.25. This represents a 46.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jim Wassil sold 8,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $86.22, for a total value of $689,760.00. Following the transaction, the chief operating officer now owns 205,695 shares in the company, valued at approximately $17,735,022.90. This represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,250 shares of company stock valued at $3,170,738. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

PCVX has been the topic of a number of research reports. Bank of America lowered their target price on Vaxcyte from $157.00 to $137.00 and set a “buy” rating on the stock in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Vaxcyte from $138.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday. Needham & Company LLC reduced their price objective on shares of Vaxcyte from $140.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Guggenheim restated a “buy” rating and issued a $160.00 target price on shares of Vaxcyte in a report on Wednesday, March 12th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $136.50.

Vaxcyte Trading Up 4.5 %

PCVX opened at $33.69 on Thursday. The company has a market cap of $4.34 billion, a PE ratio of -7.32 and a beta of 1.02. The company has a 50 day moving average of $76.94 and a 200 day moving average of $90.84. Vaxcyte, Inc. has a 12 month low of $30.12 and a 12 month high of $121.06.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.14. Research analysts forecast that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

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.