PNC Financial Services Group Inc. Raises Position in Vaxcyte, Inc. (NASDAQ:PCVX)

PNC Financial Services Group Inc. increased its holdings in Vaxcyte, Inc. (NASDAQ:PCVX) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,600 shares of the company’s stock after purchasing an additional 524 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vaxcyte were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PCVX. Wells Fargo & Company MN raised its position in Vaxcyte by 53.7% in the 4th quarter. Wells Fargo & Company MN now owns 72,275 shares of the company’s stock worth $5,916,000 after purchasing an additional 25,257 shares during the period. Envestnet Asset Management Inc. grew its holdings in Vaxcyte by 12.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 55,083 shares of the company’s stock worth $4,509,000 after acquiring an additional 6,121 shares during the last quarter. Legal & General Group Plc grew its holdings in Vaxcyte by 13.4% in the 4th quarter. Legal & General Group Plc now owns 123,664 shares of the company’s stock worth $10,123,000 after acquiring an additional 14,574 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Vaxcyte in the 4th quarter worth $4,427,000. Finally, Raymond James Financial Inc. bought a new stake in Vaxcyte in the 4th quarter worth $21,669,000. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Trading Up 4.0%

Shares of PCVX stock opened at $32.70 on Friday. Vaxcyte, Inc. has a 12 month low of $27.66 and a 12 month high of $121.06. The stock has a market cap of $4.25 billion, a P/E ratio of -7.96 and a beta of 1.21. The company has a 50 day simple moving average of $34.03 and a two-hundred day simple moving average of $46.66.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.10). During the same period in the previous year, the firm earned ($1.10) EPS. As a group, equities analysts forecast that Vaxcyte, Inc. will post -4.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PCVX. Cantor Fitzgerald began coverage on shares of Vaxcyte in a research note on Tuesday, April 22nd. They set an “overweight” rating on the stock. Cowen reaffirmed a “buy” rating on shares of Vaxcyte in a research note on Thursday, August 7th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $136.50.

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 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.