Fred Alger Management Inc. lessened its holdings in Five Prime Therapeutics Inc (NASDAQ:FPRX) by 22.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,000 shares of the biotechnology company’s stock after selling 4,000 shares during the period. Fred Alger Management Inc.’s holdings in Five Prime Therapeutics were worth $307,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Rock Springs Capital Management LP lifted its stake in Five Prime Therapeutics by 95.2% in the fourth quarter. Rock Springs Capital Management LP now owns 425,000 shares of the biotechnology company’s stock worth $9,316,000 after acquiring an additional 207,300 shares during the period. RTW Investments LP purchased a new stake in Five Prime Therapeutics in the fourth quarter worth about $2,200,000. AWM Investment Company Inc. lifted its stake in Five Prime Therapeutics by 50.0% in the fourth quarter. AWM Investment Company Inc. now owns 150,000 shares of the biotechnology company’s stock worth $3,288,000 after acquiring an additional 50,000 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in Five Prime Therapeutics in the fourth quarter worth about $4,446,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Five Prime Therapeutics in the fourth quarter worth about $607,000. Institutional investors and hedge funds own 74.88% of the company’s stock.
Several analysts have commented on the stock. ValuEngine lowered shares of Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. BidaskClub lowered shares of Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Zacks Investment Research lowered shares of Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Finally, Nomura decreased 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 research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $47.20.
NASDAQ:FPRX traded down $1.41 during midday trading on Friday, hitting $17.10. The company’s stock had a trading volume of 374,750 shares, compared to its average volume of 542,834. The company has a market cap of $650.00, a PE ratio of -3.18 and a beta of 3.42. Five Prime Therapeutics Inc has a fifty-two week low of $15.66 and a fifty-two week high of $48.87.
Five Prime Therapeutics (NASDAQ:FPRX) last issued its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.04) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.25. The business had revenue of $13.22 million for the quarter, compared to analysts’ expectations of $9.86 million. Five Prime Therapeutics had a negative net margin of 380.23% and a negative return on equity of 48.79%. research analysts anticipate that Five Prime Therapeutics Inc will post -4.98 EPS for the current year.
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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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