Five Prime Therapeutics, Inc. (NASDAQ:FPRX) Stake Reduced by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in shares of Five Prime Therapeutics, Inc. (NASDAQ:FPRX) by 4.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 239,635 shares of the biotechnology company’s stock after selling 10,792 shares during the period. Geode Capital Management LLC owned 0.87% of Five Prime Therapeutics worth $8,662,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted 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 worth $11,948,000 after buying an additional 1,558 shares during the last quarter. Creative Planning boosted 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 worth $242,000 after buying an additional 2,000 shares during the last quarter. Adams Diversified Equity Fund Inc. raised its stake in Five Prime Therapeutics by 56.3% in the first quarter. Adams Diversified Equity Fund Inc. now owns 18,600 shares of the biotechnology company’s stock worth $672,000 after buying an additional 6,700 shares during the last quarter. Alliancebernstein L.P. raised its stake in Five Prime Therapeutics by 9.2% in the first quarter. Alliancebernstein L.P. now owns 97,770 shares of the biotechnology company’s stock worth $3,534,000 after buying an additional 8,220 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Five Prime Therapeutics during the fourth quarter valued at approximately $7,080,000. Institutional investors own 84.36% of the company’s stock.

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

Five Prime Therapeutics (NASDAQ:FPRX) last issued its earnings results on Tuesday, August 8th. The biotechnology company reported ($1.58) EPS for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $7.80 million during the quarter, compared to analysts’ expectations of $8.32 million. During the same period in the prior year, the business posted ($0.49) EPS. The business’s revenue was down 16.1% on a year-over-year basis. Equities analysts predict that Five Prime Therapeutics, Inc. will post ($5.16) EPS for the current year.

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Several brokerages recently commented on FPRX. Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 price objective (down previously from $55.00) on shares of Five Prime Therapeutics in a report on Thursday, August 10th. BidaskClub lowered Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Five Prime Therapeutics from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Wednesday, April 26th. Finally, ValuEngine upgraded Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Five Prime Therapeutics currently has a consensus 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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