Maverick Capital Ltd. Boosts Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

Maverick Capital Ltd. increased its holdings in Vaxcyte, Inc. (NASDAQ:PCVX) by 41.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 976,249 shares of the company’s stock after purchasing an additional 288,341 shares during the period. Vaxcyte makes up about 2.2% of Maverick Capital Ltd.’s holdings, making the stock its 17th biggest holding. Maverick Capital Ltd.’s holdings in Vaxcyte were worth $111,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PCVX. CANADA LIFE ASSURANCE Co lifted its stake in Vaxcyte by 163.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 18,064 shares of the company’s stock worth $1,234,000 after purchasing an additional 11,208 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in shares of Vaxcyte in the 1st quarter valued at about $258,000. California State Teachers Retirement System boosted its holdings in Vaxcyte by 11.8% during the 1st quarter. California State Teachers Retirement System now owns 92,026 shares of the company’s stock valued at $6,286,000 after acquiring an additional 9,695 shares during the period. Tidal Investments LLC bought a new position in Vaxcyte during the 1st quarter worth approximately $405,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Vaxcyte by 16.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 25,059 shares of the company’s stock worth $1,712,000 after acquiring an additional 3,564 shares during the last quarter. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Price Performance

Shares of NASDAQ PCVX opened at $94.34 on Friday. Vaxcyte, Inc. has a 1 year low of $50.04 and a 1 year high of $121.06. The stock has a market capitalization of $11.76 billion, a P/E ratio of -20.51 and a beta of 1.01. The company’s 50-day moving average is $105.60 and its 200 day moving average is $90.19.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27. During the same period in the previous year, the company posted ($0.91) EPS. Research analysts anticipate that Vaxcyte, Inc. will post -4.14 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Grant Pickering sold 7,098 shares of Vaxcyte stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $109.21, for a total transaction of $775,172.58. Following the completion of the transaction, the chief executive officer now directly owns 138,581 shares in the company, valued at approximately $15,134,431.01. This trade represents a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Guggenhime sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $115.94, for a total value of $927,520.00. Following the completion of the sale, the chief financial officer now owns 90,383 shares in the company, valued at $10,479,005.02. The trade was a 8.13 % 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 valued at $11,455,576 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on PCVX shares. Jefferies Financial Group boosted their price objective on Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Mizuho increased their price target on shares of Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a research report on Wednesday, November 6th. BTIG Research raised their target price on Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock 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.