Principal Financial Group Inc. Has $1.39 Million Position in Vaxcyte, Inc. (NASDAQ:PCVX)

Principal Financial Group Inc. decreased its position in shares of Vaxcyte, Inc. (NASDAQ:PCVX) by 25.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,415 shares of the company’s stock after selling 6,182 shares during the quarter. Principal Financial Group Inc.’s holdings in Vaxcyte were worth $1,391,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in shares of Vaxcyte by 155.3% during the fourth quarter. Parallel Advisors LLC now owns 411 shares of the company’s stock valued at $26,000 after acquiring an additional 250 shares during the period. Fifth Third Bancorp bought a new position in shares of Vaxcyte in the 2nd quarter valued at about $35,000. Fidelis Capital Partners LLC bought a new stake in shares of Vaxcyte during the first quarter worth approximately $37,000. J.Safra Asset Management Corp grew its holdings in Vaxcyte by 649.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 607 shares of the company’s stock worth $46,000 after acquiring an additional 526 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Vaxcyte by 451.7% in the 1st quarter. Covestor Ltd now owns 1,153 shares of the company’s stock valued at $79,000 after purchasing an additional 944 shares during the period. 96.78% of the stock is currently owned by institutional investors.

Vaxcyte Price Performance

PCVX stock opened at $114.13 on Friday. The stock has a market capitalization of $12.42 billion, a P/E ratio of -26.67 and a beta of 0.97. Vaxcyte, Inc. has a fifty-two week low of $44.20 and a fifty-two week high of $119.50. The business has a 50-day moving average of $84.87 and a 200-day moving average of $74.66.

Vaxcyte (NASDAQ:PCVX) last announced its earnings results on Tuesday, August 6th. The company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.04. During the same quarter last year, the firm posted ($0.70) EPS. Equities analysts expect that Vaxcyte, Inc. will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $81.17, for a total value of $649,360.00. Following the completion of the transaction, the chief financial officer now directly owns 96,720 shares in the company, valued at $7,850,762.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $75.64, for a total value of $1,134,600.00. Following the sale, the chief executive officer now directly owns 478,888 shares of the company’s stock, valued at approximately $36,223,088.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $81.17, for a total value of $649,360.00. Following the transaction, the chief financial officer now owns 96,720 shares of the company’s stock, valued at approximately $7,850,762.40. The disclosure for this sale can be found here. Insiders have sold 85,283 shares of company stock valued at $7,271,218 in the last three months. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PCVX. BTIG Research raised their target price on Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group boosted their price objective on shares of Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Bank of America boosted their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Leerink Partners lifted their target price on Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a report on Thursday, June 20th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $147.50.

Vaxcyte 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.