Five Prime Therapeutics, Inc. (FPRX) Trading Down 10%

Five Prime Therapeutics, Inc. (NASDAQ:FPRX) shares fell 10% during mid-day trading on Tuesday . The stock traded as low as $25.66 and last traded at $25.96. 1,284,500 shares were traded during trading, an increase of 220% from the average session volume of 402,003 shares. The stock had previously closed at $28.83.

Several research firms recently issued reports on FPRX. Zacks Investment Research cut shares of Five Prime Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. ValuEngine cut shares of Five Prime Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. BMO Capital Markets increased their price target on shares of Five Prime Therapeutics from $71.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, November 7th. Royal Bank Of Canada increased their price target on shares of Five Prime Therapeutics from $41.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Five Prime Therapeutics in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Five Prime Therapeutics currently has an average rating of “Hold” and a consensus price target of $64.00.

Five Prime Therapeutics (NASDAQ:FPRX) last released its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($1.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.35) by ($0.19). Five Prime Therapeutics had a negative return on equity of 41.57% and a negative net margin of 408.42%. The firm had revenue of $8.33 million for the quarter, compared to analysts’ expectations of $16.16 million. During the same period last year, the firm earned ($0.72) EPS. The business’s quarterly revenue was up 24.7% on a year-over-year basis. analysts expect that Five Prime Therapeutics, Inc. will post -5.56 EPS for the current year.

In other news, Director William R. Ringo sold 1,800 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $40.26, for a total value of $72,468.00. Following the completion of the sale, the director now owns 1,200 shares of the company’s stock, valued at approximately $48,312. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Ringo sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $38.00, for a total transaction of $76,000.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $76,000. The disclosure for this sale can be found here. Insiders have sold a total of 4,400 shares of company stock worth $175,666 in the last ninety days. 6.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Five Prime Therapeutics by 0.8% in the 2nd quarter. Creative Planning now owns 6,744 shares of the biotechnology company’s stock worth $203,000 after purchasing an additional 54 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Five Prime Therapeutics by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 9,455 shares of the biotechnology company’s stock valued at $288,000 after buying an additional 287 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Five Prime Therapeutics by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,449 shares of the biotechnology company’s stock valued at $646,000 after buying an additional 397 shares during the period. Rhumbline Advisers boosted its holdings in shares of Five Prime Therapeutics by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 34,282 shares of the biotechnology company’s stock valued at $1,032,000 after buying an additional 484 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Five Prime Therapeutics by 3.0% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 17,227 shares of the biotechnology company’s stock valued at $518,000 after buying an additional 494 shares during the period. 83.86% of the stock is owned by institutional investors.

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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.

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