Pfenex Inc (NYSEAMERICAN:PFNX) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 841,848 shares, a decrease of 4.7% from the October 15th total of 883,519 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average trading volume of 65,402 shares, the days-to-cover ratio is presently 12.9 days.
Pfenex stock opened at $5.05 on Friday. Pfenex has a fifty-two week low of $2.07 and a fifty-two week high of $8.42.
Pfenex (NYSEAMERICAN:PFNX) last posted its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.10). The business had revenue of $3.57 million during the quarter, compared to the consensus estimate of $6.30 million.
In other news, Director Phillip M. Schneider bought 11,000 shares of the stock in a transaction on Tuesday, September 11th. The shares were bought at an average price of $4.99 per share, with a total value of $54,890.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Evert B. Schimmelpennink bought 10,000 shares of the stock in a transaction on Tuesday, September 11th. The stock was purchased at an average cost of $5.04 per share, for a total transaction of $50,400.00. The disclosure for this purchase can be found here. Insiders acquired 26,000 shares of company stock valued at $129,540 in the last quarter.
Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers acquired a new stake in Pfenex in the second quarter valued at $103,000. Hilltop Holdings Inc. acquired a new stake in Pfenex in the second quarter valued at $149,000. Algert Global LLC acquired a new stake in Pfenex in the second quarter valued at $154,000. Schwab Charles Investment Management Inc. acquired a new stake in Pfenex in the second quarter valued at $216,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Pfenex by 94.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,833 shares of the biotechnology company’s stock valued at $340,000 after acquiring an additional 30,488 shares during the last quarter.
Several research firms have weighed in on PFNX. William Blair reissued an “outperform” rating on shares of Pfenex in a report on Monday, September 10th. Zacks Investment Research raised Pfenex from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Wednesday, October 10th.
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Pfenex Company Profile
Pfenex Inc, a clinical-stage biotechnology company, develops biosimilar therapeutics in the United States. The company's lead product candidates include PF708, a therapeutic equivalent candidate to Forteo (teriparatide) for the treatment of osteoporosis; and novel anthrax vaccine candidates, such as Px563L and RPA563 that are in Phase I study.
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