Point72 Asset Management L.P. purchased a new stake in Five Prime Therapeutics Inc (NASDAQ:FPRX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 62,982 shares of the biotechnology company’s stock, valued at approximately $2,577,000. Point72 Asset Management L.P. owned about 0.22% of Five Prime Therapeutics at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its position in Five Prime Therapeutics by 8.4% during the 2nd quarter. State Street Corp now owns 1,354,597 shares of the biotechnology company’s stock worth $40,782,000 after buying an additional 105,077 shares during the last quarter. BB Biotech AG raised its position in Five Prime Therapeutics by 6.9% during the 2nd quarter. BB Biotech AG now owns 777,500 shares of the biotechnology company’s stock worth $23,411,000 after buying an additional 50,000 shares during the last quarter. Victory Capital Management Inc. raised its position in Five Prime Therapeutics by 28.9% during the 2nd quarter. Victory Capital Management Inc. now owns 666,440 shares of the biotechnology company’s stock worth $20,066,000 after buying an additional 149,340 shares during the last quarter. Pictet Asset Management Ltd. raised its position in Five Prime Therapeutics by 51.4% during the 3rd quarter. Pictet Asset Management Ltd. now owns 468,088 shares of the biotechnology company’s stock worth $19,150,000 after buying an additional 158,863 shares during the last quarter. Finally, Marshall Wace North America L.P. increased its holdings in shares of Five Prime Therapeutics by 19.6% in the 2nd quarter. Marshall Wace North America L.P. now owns 341,387 shares of the biotechnology company’s stock valued at $10,241,000 after purchasing an additional 56,058 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.
A number of equities analysts have recently issued reports on FPRX shares. BMO Capital Markets increased their price target on shares of Five Prime Therapeutics from $71.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, November 7th. Royal Bank of Canada started coverage on shares of Five Prime Therapeutics in a report on Thursday, September 14th. They issued an “outperform” rating and a $41.00 price target for the company. BidaskClub cut shares of Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. Zacks Investment Research cut shares of Five Prime Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, ValuEngine cut shares of Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $64.00.
In related news, Director William R. Ringo sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $45.33, for a total value of $27,198.00. Following the transaction, the director now owns 600 shares in the company, valued at $27,198. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.50% of the company’s stock.
Five Prime Therapeutics Inc (NASDAQ:FPRX) traded down $0.57 on Friday, hitting $21.19. 442,788 shares of the company traded hands, compared to its average volume of 409,056. Five Prime Therapeutics Inc has a twelve month low of $19.73 and a twelve month high of $50.80. The firm has a market capitalization of $613.61, a PE ratio of -4.18 and a beta of 3.90.
Five Prime Therapeutics (NASDAQ:FPRX) last released its earnings results on Monday, November 6th. The biotechnology company reported ($1.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.35) by ($0.19). Five Prime Therapeutics had a negative return on equity of 41.57% and a negative net margin of 408.42%. The company had revenue of $8.33 million during the quarter, compared to analyst estimates of $16.16 million. During the same period in the prior year, the business posted ($0.72) earnings per share. Five Prime Therapeutics’s revenue was up 24.7% on a year-over-year basis. sell-side analysts anticipate that Five Prime Therapeutics Inc will post -5.56 earnings per share for the current year.
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About Five Prime Therapeutics
Five Prime Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing protein therapeutics. The Company’s product candidates include Cabiralizumab (FPA008), which is an antibody that inhibits colony stimulating factor-1 receptor, that it is studying in clinical trials as a monotherapy in pigmented villonodular synovitis, and in multiple cancers in combination with programmed-death 1 immune checkpoint inhibitor, Opdivo; FPA144, which is an antibody that inhibits fibroblast growth factor receptor 2b, that it is initially developing to treat patients with gastric (stomach) cancer and is in a Phase I clinical trial, and FP-1039, which is a fusion protein that traps and neutralizes cancer-promoting fibroblast growth factors, involved in cancer cell proliferation and new blood vessel formation and is in Phase Ib clinical development to treat patients with malignant pleural mesothelioma.
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