Panagora Asset Management Inc. increased its position in Five Prime Therapeutics Inc (NASDAQ:FPRX) by 1,229.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,933 shares of the biotechnology company’s stock after acquiring an additional 170,098 shares during the period. Panagora Asset Management Inc. owned approximately 0.51% of Five Prime Therapeutics worth $1,109,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its holdings in shares of Five Prime Therapeutics by 66.0% in the 2nd quarter. Acadian Asset Management LLC now owns 143,508 shares of the biotechnology company’s stock worth $866,000 after acquiring an additional 57,078 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Five Prime Therapeutics by 32.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 321,907 shares of the biotechnology company’s stock worth $1,947,000 after acquiring an additional 78,404 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Five Prime Therapeutics in the 2nd quarter worth about $119,000. Bailard Inc. increased its holdings in shares of Five Prime Therapeutics by 23.8% in the 2nd quarter. Bailard Inc. now owns 13,000 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 2,500 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its holdings in shares of Five Prime Therapeutics by 101.9% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 24,066 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 12,146 shares during the period. 74.31% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on FPRX. Wells Fargo & Co cut shares of Five Prime Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $35.00 to $10.00 in a report on Monday, June 3rd. Roth Capital began coverage on shares of Five Prime Therapeutics in a report on Wednesday, May 29th. They issued a “neutral” rating and a $10.00 price objective on the stock. Zacks Investment Research raised shares of Five Prime Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, ValuEngine raised shares of Five Prime Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.00.
FPRX traded down $0.41 on Thursday, reaching $5.89. The company had a trading volume of 6,019 shares, compared to its average volume of 368,109. The company has a fifty day moving average of $5.48 and a 200-day moving average of $8.61. The company has a market capitalization of $231.71 million, a P/E ratio of -1.43 and a beta of 2.59. The company has a current ratio of 6.87, a quick ratio of 6.87 and a debt-to-equity ratio of 0.23. Five Prime Therapeutics Inc has a one year low of $4.89 and a one year high of $16.00.
Five Prime Therapeutics (NASDAQ:FPRX) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.99) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.09). The company had revenue of $3.33 million during the quarter, compared to the consensus estimate of $5.53 million. Five Prime Therapeutics had a negative net margin of 842.84% and a negative return on equity of 62.13%. Research analysts predict that Five Prime Therapeutics Inc will post -3.91 EPS for the current year.
Five Prime Therapeutics Profile
Five Prime Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of innovative protein therapeutics. The company's product candidates comprise Bemarituzumab, an antibody that inhibits fibroblast growth factor receptor 2b, or FGFR2b, which is in Phase III clinical trials to treat patients with gastric or gastroesophageal junction and GEJ cancer; and FPA150, a CD8 T cell checkpoint inhibitor antibody that targets B7-H4 in various cancers, as well as FPT155, a soluble CD80 fusion protein that enhances co-stimulation of T cells through CD28.
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