Renaissance Technologies LLC lowered its position in shares of Five Prime Therapeutics, Inc. (NASDAQ:FPRX) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 431,500 shares of the biotechnology company’s stock after selling 31,401 shares during the quarter. Renaissance Technologies LLC owned 1.55% of Five Prime Therapeutics worth $12,992,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Rockefeller Financial Services Inc. acquired a new position in Five Prime Therapeutics during the 2nd quarter worth approximately $210,000. Alliancebernstein L.P. boosted its position in Five Prime Therapeutics by 9.2% during the 1st quarter. Alliancebernstein L.P. now owns 97,770 shares of the biotechnology company’s stock worth $3,534,000 after acquiring an additional 8,220 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Five Prime Therapeutics by 142.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 217,462 shares of the biotechnology company’s stock worth $7,861,000 after acquiring an additional 127,693 shares during the last quarter. Marshall Wace North America L.P. boosted its position in Five Prime Therapeutics by 19.6% during the 2nd quarter. Marshall Wace North America L.P. now owns 341,387 shares of the biotechnology company’s stock worth $10,241,000 after acquiring an additional 56,058 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Five Prime Therapeutics during the 1st quarter worth approximately $945,000. 84.05% of the stock is owned by hedge funds and other institutional investors.
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In related news, Director William R. Ringo sold 2,000 shares of Five Prime Therapeutics stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $38.00, for a total transaction of $76,000.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at $76,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William R. Ringo sold 1,800 shares of Five Prime Therapeutics stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $40.26, for a total value of $72,468.00. Following the transaction, the director now directly owns 1,200 shares in the company, valued at approximately $48,312. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.
A number of equities analysts have weighed in on the company. Royal Bank Of Canada assumed coverage on Five Prime Therapeutics in a research report on Thursday, September 14th. They set an “outperform” rating and a $41.00 price target for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $52.00 price target (down previously from $55.00) on shares of Five Prime Therapeutics in a research report on Thursday, August 10th. Zacks Investment Research downgraded Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. BMO Capital Markets raised Five Prime Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Monday. Finally, BidaskClub downgraded Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Five Prime Therapeutics presently has an average rating of “Buy” and an average target price of $56.29.
Shares of Five Prime Therapeutics, Inc. (FPRX) opened at 46.63 on Wednesday. Five Prime Therapeutics, Inc. has a 12-month low of $25.97 and a 12-month high of $60.98. The firm’s market cap is $1.30 billion. The stock has a 50 day moving average price of $36.50 and a 200 day moving average price of $31.99.
Five Prime Therapeutics (NASDAQ:FPRX) last announced its earnings results on Tuesday, August 8th. The biotechnology company reported ($1.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.15) by ($0.43). The company had revenue of $7.80 million for the quarter, compared to analysts’ expectations of $8.32 million. Five Prime Therapeutics had a negative net margin of 356.39% and a negative return on equity of 31.78%. The firm’s quarterly revenue was down 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.49) EPS. On average, equities analysts expect that Five Prime Therapeutics, Inc. will post ($5.29) earnings per share for the current year.
Five Prime Therapeutics Company Profile
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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