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

Principal Financial Group Inc. increased its holdings in shares of Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) by 52.0% during the first quarter, according to its most recent Form 13F filing with the Securities and 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 0.36% of Vaxcyte worth $17,731,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bridgefront Capital LLC grew its holdings in shares of Vaxcyte by 4.2% during the fourth quarter. Bridgefront Capital LLC now owns 4,244 shares of the company's stock valued at $347,000 after buying an additional 172 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Vaxcyte by 188.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 398 shares of the company's stock valued at $33,000 after buying an additional 260 shares in the last quarter. Catalyst Funds Management Pty Ltd grew 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 buying an additional 300 shares in the last quarter. Avior Wealth Management LLC grew 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 buying an additional 343 shares in the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Vaxcyte during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 96.78% of the company's stock.

Vaxcyte Stock Down 0.9%

Shares of NASDAQ:PCVX traded down $0.31 on Friday, reaching $35.93. The company had a trading volume of 1,947,376 shares, compared to its average volume of 1,492,086. Vaxcyte, Inc. has a twelve month low of $27.66 and a twelve month high of $121.06. The stock has a 50-day moving average price of $33.31 and a 200 day moving average price of $55.25. The stock has a market capitalization of $4.63 billion, a P/E ratio of -9.01 and a beta of 1.19.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.02). During the same period in the prior year, the business earned ($0.85) earnings per share. On average, sell-side analysts predict that Vaxcyte, Inc. will post -4.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PCVX shares. Needham & Company LLC reissued a "buy" rating and set a $90.00 price objective on shares of Vaxcyte in a research report on Tuesday, April 8th. The Goldman Sachs Group reduced their price objective on Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Evercore ISI raised Vaxcyte to a "strong-buy" rating in a research report on Monday, March 31st. Cantor Fitzgerald started coverage on Vaxcyte in a research report on Tuesday, April 22nd. They set an "overweight" rating for the company. Finally, Bank of America reduced their price objective on Vaxcyte from $157.00 to $137.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target 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.