Five Prime Therapeutics (NASDAQ:FPRX) Trading Up 8.1%

Five Prime Therapeutics, Inc. (NASDAQ:FPRX)’s stock price was up 8.1% on Monday . The stock traded as high as $21.09 and last traded at $20.99. Approximately 783,344 shares traded hands during trading, a decline of 25% from the average daily volume of 1,041,218 shares. The stock had previously closed at $19.41.

FPRX has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Five Prime Therapeutics from an “equal weight” rating to an “overweight” rating and set a $34.00 price objective for the company in a research note on Wednesday, November 11th. SVB Leerink reaffirmed an “outperform” rating and set a $33.00 price objective (up from $9.00) on shares of Five Prime Therapeutics in a research note on Wednesday, November 11th. Zacks Investment Research raised shares of Five Prime Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 19th. Roth Capital raised shares of Five Prime Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $30.00 in a research note on Wednesday, November 11th. Finally, Wedbush upped their price objective on shares of Five Prime Therapeutics from $9.00 to $28.00 in a research note on Wednesday, November 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Five Prime Therapeutics has an average rating of “Buy” and a consensus target price of $22.21.

The business’s 50-day moving average price is $16.97 and its 200-day moving average price is $10.46. The firm has a market capitalization of $798.42 million, a PE ratio of -7.24 and a beta of 4.40.

In other news, insider Bvf Partners L. P/Il sold 7,393,340 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $20.19, for a total value of $149,271,534.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its holdings in Five Prime Therapeutics by 130.5% in the fourth quarter. New York State Common Retirement Fund now owns 29,500 shares of the biotechnology company’s stock worth $502,000 after buying an additional 16,700 shares during the last quarter. Jennison Associates LLC acquired a new position in Five Prime Therapeutics in the fourth quarter worth approximately $552,000. BlackRock Inc. increased its holdings in Five Prime Therapeutics by 39.6% in the fourth quarter. BlackRock Inc. now owns 2,959,031 shares of the biotechnology company’s stock worth $50,333,000 after buying an additional 839,885 shares during the last quarter. SG Americas Securities LLC acquired a new position in Five Prime Therapeutics in the fourth quarter worth approximately $159,000. Finally, State of Wisconsin Investment Board acquired a new position in Five Prime Therapeutics in the fourth quarter worth approximately $298,000. Hedge funds and other institutional investors own 67.28% of the company’s stock.

About Five Prime Therapeutics (NASDAQ:FPRX)

Five Prime Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of innovative protein therapeutics. The company's product candidates comprise Bemarituzumab, an antibody that inhibits fibroblast growth factor receptor 2b, or FGFR2b, which is in Phase 3 clinical trials to treat patients with gastric or gastroesophageal junction and GEJ cancer; and FPA150, a CD8 T cell checkpoint inhibitor antibody that is in Phase 1a/1b clinical trial that targets B7-H4 in various cancers, as well as FPT155, a soluble CD80 fusion protein, which is in Phase 1a/1b clinical trial that enhances co-stimulation of T cells through CD28.

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