Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Five Prime Therapeutics Inc (NASDAQ:FPRX) by 18.9% in the second quarter, Holdings Channel reports. The institutional investor owned 24,625 shares of the biotechnology company’s stock after selling 5,750 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Five Prime Therapeutics were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in the business. Algert Global LLC purchased a new position in Five Prime Therapeutics in the 2nd quarter worth about $476,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in Five Prime Therapeutics by 55.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 48,445 shares of the biotechnology company’s stock worth $766,000 after buying an additional 17,270 shares during the period. Fox Run Management L.L.C. purchased a new position in Five Prime Therapeutics in the 2nd quarter worth about $379,000. Millennium Management LLC increased its stake in Five Prime Therapeutics by 35.7% in the 1st quarter. Millennium Management LLC now owns 357,747 shares of the biotechnology company’s stock worth $6,146,000 after buying an additional 94,035 shares during the period. Finally, Hilltop Holdings Inc. purchased a new position in Five Prime Therapeutics in the 1st quarter worth about $893,000. 90.70% of the stock is owned by institutional investors and hedge funds.
NASDAQ FPRX opened at $13.42 on Wednesday. The stock has a market cap of $468.93 million, a price-to-earnings ratio of -2.49 and a beta of 3.32. Five Prime Therapeutics Inc has a one year low of $12.66 and a one year high of $48.87.
Five Prime Therapeutics (NASDAQ:FPRX) last posted its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.99) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.30. The business had revenue of $7.58 million for the quarter, compared to the consensus estimate of $5.87 million. Five Prime Therapeutics had a negative net margin of 206.02% and a negative return on equity of 40.61%. equities research analysts expect that Five Prime Therapeutics Inc will post -4.02 earnings per share for the current fiscal year.
Several research analysts recently commented on the stock. Citigroup reduced their price target on shares of Five Prime Therapeutics from $60.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday. BidaskClub downgraded shares of Five Prime Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Wedbush raised their price target on shares of Five Prime Therapeutics from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, August 10th. Wells Fargo & Co reduced their price target on shares of Five Prime Therapeutics from $58.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, August 9th. Finally, ValuEngine downgraded shares of Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $34.50.
Five Prime Therapeutics Company Profile
Five Prime Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of immuno-oncology protein therapeutics. The company's product candidates include Cabiralizumab, an antibody that inhibits colony stimulating factor-1 receptor that is in Phase Ia/Ib clinical trials for the treatment of various cancers in combination with nivolumab; and is in Phase I/II clinical trials for the treatment of pigmented villonodular synovitis tumor.
See Also: Analyst Ratings
Want to see what other hedge funds are holding FPRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Five Prime Therapeutics Inc (NASDAQ:FPRX).
Receive News & Ratings for Five Prime Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Five Prime Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.