Principal Financial Group Inc. Has $17.73 Million Holdings in Vaxcyte, Inc. (NASDAQ:PCVX)

Principal Financial Group Inc. raised its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 52.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 469,561 shares of the company's stock after buying an additional 160,622 shares during the quarter. Principal Financial Group Inc. owned about 0.36% of Vaxcyte worth $17,731,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Bridgefront Capital LLC boosted its position in Vaxcyte by 4.2% during the 4th quarter. Bridgefront Capital LLC now owns 4,244 shares of the company's stock valued at $347,000 after purchasing an additional 172 shares during the period. Smartleaf Asset Management LLC increased its position in Vaxcyte by 188.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 398 shares of the company's stock worth $33,000 after buying an additional 260 shares during the period. Catalyst Funds Management Pty Ltd boosted its holdings in shares of Vaxcyte by 1.7% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 18,400 shares of the company's stock valued at $1,506,000 after acquiring an additional 300 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of Vaxcyte by 5.3% during the first quarter. Avior Wealth Management LLC now owns 6,799 shares of the company's stock valued at $257,000 after acquiring an additional 343 shares during the period. Finally, National Bank of Canada FI bought a new position in shares of Vaxcyte during the fourth quarter worth about $41,000. Institutional investors own 96.78% of the company's stock.

Vaxcyte Trading Up 1.3%

PCVX stock traded up $0.45 on Monday, hitting $36.38. 1,221,124 shares of the company's stock traded hands, compared to its average volume of 1,491,002. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -9.12 and a beta of 1.19. Vaxcyte, Inc. has a 1-year low of $27.66 and a 1-year high of $121.06. The stock has a fifty day moving average of $33.35 and a 200-day moving average of $54.73.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.02). During the same quarter in the prior year, the company earned ($0.85) earnings per share. On average, equities research analysts anticipate that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PCVX has been the topic of several recent research reports. Bank of America cut their price objective on shares of Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Cantor Fitzgerald assumed coverage on shares of Vaxcyte in a report on Tuesday, April 22nd. They issued an "overweight" rating for the company. The Goldman Sachs Group decreased their target price on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Needham & Company LLC restated a "buy" rating and set a $90.00 price target on shares of Vaxcyte in a research report on Tuesday, April 8th. Finally, Evercore ISI raised shares of Vaxcyte to a "strong-buy" rating in a research note on Monday, March 31st. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Vaxcyte 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.