Renaissance Technologies LLC lowered its stake in Five Prime Therapeutics, Inc. (NASDAQ:FPRX) by 6.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 431,500 shares of the biotechnology company’s stock after selling 31,401 shares during the period. Renaissance Technologies LLC owned approximately 1.55% of Five Prime Therapeutics worth $12,992,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Rockefeller Financial Services Inc. bought a new position in shares of Five Prime Therapeutics in the second quarter worth $210,000. Alliancebernstein L.P. boosted its stake in Five Prime Therapeutics by 9.2% in the first quarter. Alliancebernstein L.P. now owns 97,770 shares of the biotechnology company’s stock valued at $3,534,000 after buying an additional 8,220 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Five Prime Therapeutics by 142.2% in the first quarter. Goldman Sachs Group Inc. now owns 217,462 shares of the biotechnology company’s stock valued at $7,861,000 after buying an additional 127,693 shares in the last quarter. Marshall Wace North America L.P. boosted its stake in Five Prime Therapeutics by 19.6% in the second quarter. Marshall Wace North America L.P. now owns 341,387 shares of the biotechnology company’s stock valued at $10,241,000 after buying an additional 56,058 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Five Prime Therapeutics in the first quarter valued at about $945,000. Institutional investors own 84.04% of the company’s stock.
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In other news, Director William R. Ringo sold 1,800 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William R. Ringo sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $76,000. The disclosure for this sale can be found here. Company insiders own 6.50% of the company’s stock.
Shares of Five Prime Therapeutics, Inc. (FPRX) traded up 2.81% during midday trading on Friday, reaching $45.06. The company had a trading volume of 49,787 shares. Five Prime Therapeutics, Inc. has a one year low of $25.97 and a one year high of $60.98. The company has a 50-day moving average price of $39.15 and a 200 day moving average price of $32.65. The company’s market capitalization is $1.26 billion.
Five Prime Therapeutics (NASDAQ:FPRX) last posted its earnings results on Tuesday, August 8th. The biotechnology company reported ($1.58) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.15) by ($0.43). The business had revenue of $7.80 million during the quarter, compared to the consensus estimate of $8.32 million. Five Prime Therapeutics had a negative return on equity of 31.78% and a negative net margin of 356.39%. The firm’s revenue for the quarter was down 16.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.49) EPS. Equities analysts anticipate that Five Prime Therapeutics, Inc. will post ($5.29) earnings per share for the current fiscal year.
A number of brokerages have recently commented on FPRX. Royal Bank Of Canada reissued a “buy” rating and set a $41.00 price target on shares of Five Prime Therapeutics in a research note on Wednesday. Jefferies Group LLC reissued a “buy” rating and set a $52.00 price target (down from $55.00) on shares of Five Prime Therapeutics in a research note on Thursday, August 10th. Zacks Investment Research lowered Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. BidaskClub lowered Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $39.00 target price on shares of Five Prime Therapeutics in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $54.83.
Five Prime Therapeutics 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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