BlackRock Inc. Increases Holdings in Pfenex Inc (PFNX)

BlackRock Inc. raised its position in shares of Pfenex Inc (NYSEAMERICAN:PFNX) by 257.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,316,873 shares of the biotechnology company’s stock after buying an additional 948,102 shares during the quarter. BlackRock Inc. owned about 0.06% of Pfenex worth $7,125,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PFNX. Rhumbline Advisers acquired a new stake in shares of Pfenex during the 2nd quarter worth approximately $103,000. Algert Global LLC acquired a new stake in shares of Pfenex during the 2nd quarter worth approximately $154,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Pfenex during the 2nd quarter worth approximately $216,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Pfenex by 94.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,833 shares of the biotechnology company’s stock worth $340,000 after purchasing an additional 30,488 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Pfenex by 142.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 68,390 shares of the biotechnology company’s stock worth $370,000 after purchasing an additional 40,175 shares during the period.

In other Pfenex news, insider Evert B. Schimmelpennink acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The stock was acquired at an average cost of $5.04 per share, with a total value of $50,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Phillip M. Schneider acquired 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The stock was acquired at an average cost of $4.99 per share, with a total value of $54,890.00. The disclosure for this purchase can be found here. Insiders purchased a total of 26,000 shares of company stock valued at $129,540 over the last three months.

A number of brokerages have recently weighed in on PFNX. Zacks Investment Research upgraded Pfenex from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research report on Wednesday, October 10th. William Blair reiterated an “outperform” rating on shares of Pfenex in a research report on Monday, September 10th.

Shares of Pfenex stock opened at $4.42 on Wednesday. Pfenex Inc has a twelve month low of $2.07 and a twelve month high of $8.42.

Pfenex (NYSEAMERICAN:PFNX) last issued its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.05). The company had revenue of $4.19 million during the quarter, compared to analyst estimates of $5.55 million.

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Pfenex Profile

Pfenex Inc, a clinical-stage biotechnology company, develops biosimilar therapeutics in the United States. The company's lead product candidates include PF708, a therapeutic equivalent candidate to Forteo (teriparatide) for the treatment of osteoporosis; and novel anthrax vaccine candidates, such as Px563L and RPA563 that are in Phase I study.

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Institutional Ownership by Quarter for Pfenex (NYSEAMERICAN:PFNX)

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