Swiss National Bank Increases Stake in Vaxcyte, Inc.

Swiss National Bank has raised its investment in Vaxcyte, Inc. (NASDAQ:PCVX) by 21.3% in the fourth quarter, as indicated in its latest 13F filing with the Securities and Exchange Commission. Following the acquisition of an additional 38,400 shares, the bank now holds a total of 219,000 shares of Vaxcyte's stock, valued at approximately $17,927,000, representing 0.18% of the company.

Recent activity from other institutional investors also highlights growing interest in Vaxcyte. Whipplewood Advisors LLC took a new position in the fourth quarter, estimated at about $28,000. Furthermore, Smartleaf Asset Management LLC increased its stake by an impressive 188.4%, now owning 398 shares worth roughly $33,000 after adding 260 shares. Meeder Asset Management Inc. made a significant increase in the third quarter by 1,007.9%, accumulating 698 shares valued at $80,000 after acquiring 635 shares. Blue Trust Inc. doubled its stake in the fourth quarter, now owning 742 shares worth around $61,000 after an additional acquisition of 371 shares. Meanwhile, Assetmark Inc. has skyrocketed its position by 77,500% during the same period, owning 776 shares valued at $64,000 after purchasing 775 new shares. Overall, institutional investors and hedge funds collectively own 96.78% of Vaxcyte's outstanding shares.

Insider Transactions at Vaxcyte

In terms of insider activity, Teri Loxam, a director at Vaxcyte, sold 6,250 shares on January 15 at an average price of $85.11, totaling approximately $531,937.50. Post-sale, Loxam holds 7,175 shares valued around $610,664.25, reflecting a 46.55% decrease in position. Similarly, COO Jim Wassil sold 8,000 shares on March 3 at an average price of $73.27, equating to roughly $586,160. After this transaction, he directly owns 154,931 shares worth about $11,351,794.37, marking a 4.91% reduction in his stake. Over the last 90 days, insiders have sold a total of 46,250 shares for approximately $3,840,018, with corporate insiders holding 3.10% of Vaxcyte's stock.

Analyst Opinions on Vaxcyte

Wall Street analysts have offered positive outlooks for Vaxcyte, indicating potential growth. Guggenheim reiterated a "buy" rating, setting the target price at $160.00, while Goldman Sachs initiated coverage with a "buy" recommendation and a target price of $135.00. Additionally, Needham & Company LLC maintained a "buy" rating with a target price of $140.00. According to MarketBeat.com, Vaxcyte has garnered nine buy ratings and currently enjoys an average rating of "Buy" with an average target price of $147.50.

Vaxcyte's Market Performance

Vaxcyte's shares opened at $74.72 on Wednesday, accompanied by a 50-day simple moving average of $81.77 and a 200-day average of $94.41. With a market capitalization of $9.62 billion, Vaxcyte has a price-to-earnings ratio of -16.24 and a beta of 1.02. The stock's year-to-date performance shows a low of $58.10 and a high of $121.06 over the past 12 months. In its most recent quarterly earnings report released on February 25, Vaxcyte reported an earnings per share (EPS) of ($1.02), surpassing the consensus estimate of ($1.16) by $0.14. Analysts predict that Vaxcyte will post an EPS of -4.21 for the current fiscal year.

About Vaxcyte

Vaxcyte, Inc. is a clinical-stage biotechnology company focused on developing innovative protein vaccines aimed at preventing or treating bacterial diseases. Its lead candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine designed to combat invasive pneumococcal diseases. Vaxcyte is also developing several other vaccine candidates, including VAX-31 for antibiotic resistance, VAX-A1 for Group A Streptococcus, VAX-PG for periodontitis, and VAX-GI to prevent Shigella infections.

Vaxcyte, Investment, Shares