62,982 Shares in Five Prime Therapeutics Inc (FPRX) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in shares of Five Prime Therapeutics Inc (NASDAQ:FPRX) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 62,982 shares of the biotechnology company’s stock, valued at approximately $2,577,000. Point72 Asset Management L.P. owned 0.22% of Five Prime Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FPRX. JPMorgan Chase & Co. lifted its stake in Five Prime Therapeutics by 162.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 298,395 shares of the biotechnology company’s stock valued at $8,984,000 after acquiring an additional 184,888 shares during the period. Pictet Asset Management Ltd. lifted its stake in Five Prime Therapeutics by 51.4% during the 3rd quarter. Pictet Asset Management Ltd. now owns 468,088 shares of the biotechnology company’s stock valued at $19,150,000 after acquiring an additional 158,863 shares during the period. Artal Group S.A. acquired a new stake in Five Prime Therapeutics during the 2nd quarter valued at approximately $4,517,000. Victory Capital Management Inc. lifted its stake in Five Prime Therapeutics by 28.9% during the 2nd quarter. Victory Capital Management Inc. now owns 666,440 shares of the biotechnology company’s stock valued at $20,066,000 after acquiring an additional 149,340 shares during the period. Finally, State Street Corp lifted its stake in Five Prime Therapeutics by 8.4% during the 2nd quarter. State Street Corp now owns 1,354,597 shares of the biotechnology company’s stock valued at $40,782,000 after acquiring an additional 105,077 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Five Prime Therapeutics from a “sell” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Monday, October 16th. Royal Bank of Canada lifted their price objective on shares of Five Prime Therapeutics from $41.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. BMO Capital Markets lifted their price objective on shares of Five Prime Therapeutics from $71.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, November 7th. Jefferies Group restated a “buy” rating and set a $52.00 price objective on shares of Five Prime Therapeutics in a research note on Tuesday, September 12th. Finally, ValuEngine raised shares of Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $64.00.

Five Prime Therapeutics Inc (FPRX) opened at $21.72 on Thursday. Five Prime Therapeutics Inc has a 1-year low of $19.73 and a 1-year high of $53.89.

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

In other news, Director William R. Ringo sold 600 shares of Five Prime Therapeutics stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $45.33, for a total transaction of $27,198.00. Following the completion of the transaction, the director now directly owns 600 shares of the company’s stock, valued at approximately $27,198. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William R. Ringo sold 1,800 shares of Five Prime Therapeutics stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $40.26, for a total transaction of $72,468.00. Following the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at $48,312. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,400 shares of company stock valued at $175,666. Insiders own 6.50% of the company’s stock.

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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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Institutional Ownership by Quarter for Five Prime Therapeutics (NASDAQ:FPRX)

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