Vanguard Group Inc. Decreases Stake in Five Prime Therapeutics, Inc. (FPRX)

Vanguard Group Inc. reduced its stake in shares of Five Prime Therapeutics, Inc. (NASDAQ:FPRX) by 24.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,655,985 shares of the biotechnology company’s stock after selling 526,860 shares during the period. Vanguard Group Inc. owned about 6.02% of Five Prime Therapeutics worth $59,864,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Five Prime Therapeutics during the fourth quarter valued at about $7,080,000. UBS Asset Management Americas Inc. raised its position in shares of Five Prime Therapeutics by 481.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 156,301 shares of the biotechnology company’s stock valued at $7,833,000 after buying an additional 129,404 shares during the period. Teachers Advisors LLC raised its position in shares of Five Prime Therapeutics by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 238,428 shares of the biotechnology company’s stock valued at $11,948,000 after buying an additional 1,558 shares during the period. Creative Planning raised its position in shares of Five Prime Therapeutics by 42.6% in the first quarter. Creative Planning now owns 6,690 shares of the biotechnology company’s stock valued at $242,000 after buying an additional 2,000 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of Five Prime Therapeutics by 3.1% in the first quarter. Nationwide Fund Advisors now owns 59,400 shares of the biotechnology company’s stock valued at $2,147,000 after buying an additional 1,771 shares during the period. 84.36% of the stock is owned by institutional investors.

Shares of Five Prime Therapeutics, Inc. (NASDAQ FPRX) opened at 28.06 on Friday. The company’s market capitalization is $785.26 million. Five Prime Therapeutics, Inc. has a 52-week low of $25.97 and a 52-week high of $60.98. The company has a 50-day moving average of $29.00 and a 200 day moving average of $34.18.

Five Prime Therapeutics (NASDAQ:FPRX) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($1.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by $0.43. Five Prime Therapeutics had a negative net margin of 356.39% and a negative return on equity of 31.78%. The firm had revenue of $7.80 million for the quarter, compared to the consensus estimate of $8.32 million. During the same period in the previous year, the business earned ($0.49) earnings per share. The firm’s revenue for the quarter was down 16.1% on a year-over-year basis. Analysts predict that Five Prime Therapeutics, Inc. will post ($5.16) earnings per share for the current year.

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Several equities analysts have recently issued reports on FPRX shares. Zacks Investment Research raised shares of Five Prime Therapeutics from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Five Prime Therapeutics in a research report on Friday, May 5th. ValuEngine raised shares of Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BidaskClub cut shares of 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 assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $60.80.

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.

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

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