Renaissance Technologies LLC Lowers Position in Five Prime Therapeutics, Inc. (FPRX)

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.

Institutional Ownership by Quarter for Five Prime Therapeutics (NASDAQ:FPRX)

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