Insider Selling: Five Prime Therapeutics, Inc. (FPRX) Director Sells $76,000.00 in Stock
Five Prime Therapeutics, Inc. (NASDAQ:FPRX) Director William R. Ringo sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at approximately $76,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Five Prime Therapeutics, Inc. (FPRX) opened at 37.59 on Thursday. The stock’s market cap is $1.05 billion. Five Prime Therapeutics, Inc. has a 52-week low of $25.97 and a 52-week high of $60.98. The firm has a 50-day moving average price of $34.11 and a 200 day moving average price of $31.83.
Five Prime Therapeutics (NASDAQ:FPRX) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($0.43). The firm had revenue of $7.80 million for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was down 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.49) earnings per share. Analysts expect that Five Prime Therapeutics, Inc. will post ($5.29) earnings per share for the current year.
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A number of hedge funds have recently modified their holdings of FPRX. Renaissance Technologies LLC acquired a new position in Five Prime Therapeutics during the first quarter worth $16,734,000. Marshall Wace North America L.P. acquired a new position in shares of Five Prime Therapeutics in the first quarter worth $10,272,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Five Prime Therapeutics in the first quarter worth $10,272,000. State Street Corp raised its holdings in shares of Five Prime Therapeutics by 25.7% in the first quarter. State Street Corp now owns 1,249,520 shares of the biotechnology company’s stock worth $45,175,000 after acquiring an additional 255,488 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Five Prime Therapeutics by 162.9% in the second quarter. JPMorgan Chase & Co. now owns 298,395 shares of the biotechnology company’s stock worth $8,984,000 after acquiring an additional 184,888 shares during the last quarter. 84.05% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on FPRX. BMO Capital Markets restated a “hold” rating and issued a $39.00 price objective on shares of Five Prime Therapeutics in a research report on Friday, September 22nd. Royal Bank Of Canada began coverage on Five Prime Therapeutics in a research report on Thursday, September 14th. They issued an “outperform” rating and a $41.00 price objective on the stock. Jefferies Group LLC restated a “buy” rating and issued a $52.00 price objective on shares of Five Prime Therapeutics in a research report on Tuesday, September 12th. ValuEngine upgraded Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $57.50.
About Five Prime Therapeutics
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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