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

Principal Financial Group Inc. raised its holdings in Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 52.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 469,561 shares of the company's stock after acquiring an additional 160,622 shares during the period. Principal Financial Group Inc. owned about 0.36% of Vaxcyte worth $17,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors grew its holdings in shares of Vaxcyte by 26.8% during the fourth quarter. Capital Research Global Investors now owns 6,210,523 shares of the company's stock worth $508,393,000 after buying an additional 1,312,302 shares in the last quarter. Norges Bank acquired a new position in Vaxcyte during the 4th quarter worth approximately $90,069,000. Vanguard Group Inc. grew its stake in shares of Vaxcyte by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company's stock worth $979,184,000 after acquiring an additional 521,204 shares in the last quarter. Paradigm Biocapital Advisors LP raised its holdings in shares of Vaxcyte by 57.3% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,422,787 shares of the company's stock valued at $116,469,000 after purchasing an additional 518,255 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Vaxcyte in the fourth quarter worth $39,846,000. 96.78% of the stock is currently owned by institutional investors.

Vaxcyte Stock Performance

PCVX opened at $36.24 on Friday. The stock has a fifty day moving average of $33.30 and a 200-day moving average of $55.81. The company has a market capitalization of $4.67 billion, a P/E ratio of -9.08 and a beta of 1.19. Vaxcyte, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued 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 last year, the company posted ($0.85) earnings per share. On average, equities research analysts predict that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Vaxcyte in a research note on Tuesday, April 22nd. They issued an "overweight" rating on the stock. Bank of America lowered their target price on Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of Vaxcyte in a report on Tuesday, April 8th. The Goldman Sachs Group decreased their price target on Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Evercore ISI upgraded Vaxcyte to a "strong-buy" rating in a research note on Monday, March 31st. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vaxcyte presently has a consensus rating of "Buy" and an average target price of $136.50.

Vaxcyte Company Profile

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.

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