Truist Financial Corp Purchases Shares of 7,991 Vaxcyte, Inc. (NASDAQ:PCVX)

Truist Financial Corp purchased a new stake in shares of Vaxcyte, Inc. (NASDAQ:PCVX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,991 shares of the company’s stock, valued at approximately $399,000.

A number of other institutional investors have also made changes to their positions in PCVX. Russell Investments Group Ltd. purchased a new position in shares of Vaxcyte in the first quarter valued at approximately $30,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Vaxcyte by 35.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 1,084 shares of the company’s stock valued at $41,000 after purchasing an additional 281 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Vaxcyte by 236.5% in the first quarter. Tower Research Capital LLC TRC now owns 2,497 shares of the company’s stock valued at $94,000 after purchasing an additional 1,755 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Vaxcyte by 162.5% in the fourth quarter. Wells Fargo & Company MN now owns 3,961 shares of the company’s stock valued at $190,000 after purchasing an additional 2,452 shares during the period. Finally, Keybank National Association OH purchased a new position in shares of Vaxcyte in the second quarter valued at approximately $202,000.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PCVX shares. Needham & Company LLC reissued a “buy” rating and issued a $58.00 price objective on shares of Vaxcyte in a research note on Tuesday, November 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price objective on shares of Vaxcyte in a research note on Tuesday, August 22nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $65.00.

Insider Buying and Selling

In other Vaxcyte news, COO Jim Wassil sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $52.82, for a total transaction of $158,460.00. Following the sale, the chief operating officer now owns 170,066 shares of the company’s stock, valued at $8,982,886.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Vaxcyte news, CEO Grant Pickering sold 2,618 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $47.29, for a total transaction of $123,805.22. Following the sale, the chief executive officer now owns 153,903 shares of the company’s stock, valued at $7,278,072.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jim Wassil sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $52.82, for a total transaction of $158,460.00. Following the sale, the chief operating officer now directly owns 170,066 shares in the company, valued at approximately $8,982,886.12. The disclosure for this sale can be found here. Insiders sold 72,236 shares of company stock worth $3,575,415 over the last 90 days. 3.60% of the stock is owned by insiders.

Vaxcyte Stock Up 0.2 %

Shares of Vaxcyte stock opened at $48.14 on Friday. Vaxcyte, Inc. has a 52-week low of $34.11 and a 52-week high of $54.97. The company has a 50 day moving average of $49.30 and a 200 day moving average of $49.30. The company has a market capitalization of $4.58 billion, a P/E ratio of -14.41 and a beta of 0.89.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.07). As a group, research analysts anticipate that Vaxcyte, Inc. will post -3.31 earnings per share for the current fiscal year.

About Vaxcyte

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 these 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.