10 Cash-Rich Mid Cap Stocks To Buy Now

5. Vaxcyte, Inc. (NASDAQ:PCVX)

Number of Hedge Fund Holders: 50

Cash and Cash Equivalents as of December 31, 2024: $1,747,208,000

Vaxcyte, Inc. (NASDAQ:PCVX) is a California-based biotech company focused on developing next-generation vaccines for bacterial infections. On February 27, Vaxcyte announced that it is pushing forward with its VAX-31 pneumococcal vaccine and scaling up production with Lonza. In 2024, the company invested $127.8 million in a dedicated manufacturing suite at Lonza’s Ibex Biopark in Switzerland, bringing its total investment to $214.3 million. It is one of the best cash rich stocks to invest in.

By the end of 2024, Vaxcyte, Inc. (NASDAQ:PCVX)’s cash and investments had increased to $3.13 billion, more than doubling from $1.24 billion in 2023, supported by $2.2 billion raised through financing during the year. R&D spending also saw a big jump, reaching $476.6 million for the year, up from $332.3 million. This was mainly due to expanded development, manufacturing efforts, and hiring for its PCV programs. In November 2024, Vaxcyte’s VAX-31 vaccine received Breakthrough Therapy designation from the FDA for preventing invasive pneumococcal disease in adults. The designation was based on promising results from its Phase 1/2 study.

Insider Monkey’s database shows that 50 hedge funds held stakes in Vaxcyte, Inc. (NASDAQ:PCVX) during Q4 2024, compared to 48 funds in the last quarter. RA Capital Management is the leading position holder in the company, with a stake worth $711.3 million.