Five Prime Therapeutics Inc (NASDAQ:FPRX) dropped 1.3% during mid-day trading on Friday . The company traded as low as $16.23 and last traded at $16.16. Approximately 338,500 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 569,363 shares. The stock had previously closed at $16.37.
FPRX has been the topic of a number of research analyst reports. BidaskClub downgraded 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 “hold” rating to a “sell” rating in a report on Friday, March 2nd. BMO Capital Markets dropped their price objective on shares of Five Prime Therapeutics from $75.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Finally, Nomura dropped their price objective on shares of Five Prime Therapeutics from $94.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.20.
The firm has a market capitalization of $642.83, a price-to-earnings ratio of -3.05 and a beta of 3.33.
Hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. acquired a new position in shares of Five Prime Therapeutics in the third quarter valued at approximately $223,000. Teacher Retirement System of Texas acquired a new position in shares of Five Prime Therapeutics in the fourth quarter valued at approximately $221,000. MetLife Investment Advisors LLC acquired a new position in shares of Five Prime Therapeutics in the fourth quarter valued at approximately $294,000. Ark Investment Management LLC grew its holdings in shares of Five Prime Therapeutics by 299.2% in the second quarter. Ark Investment Management LLC now owns 14,174 shares of the biotechnology company’s stock valued at $427,000 after purchasing an additional 10,623 shares in the last quarter. Finally, Virtus Fund Advisers LLC acquired a new position in shares of Five Prime Therapeutics in the fourth quarter valued at approximately $381,000. Hedge funds and other institutional investors own 74.94% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Five Prime Therapeutics (FPRX) Shares Down 1.3%” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/03/16/five-prime-therapeutics-fprx-shares-down-1-3.html.
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.
Receive News & Ratings for Five Prime Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Five Prime Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.