Granite Point Capital Management L.P. Has $903,000 Holdings in Five Prime Therapeutics, Inc. (FPRX)
Granite Point Capital Management L.P. continued to hold its position in Five Prime Therapeutics, Inc. (NASDAQ:FPRX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the biotechnology company’s stock at the close of the 2nd quarter. Granite Point Capital Management L.P. owned 0.11% of Five Prime Therapeutics worth $903,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. BB Biotech AG acquired a new position in shares of Five Prime Therapeutics during the 1st quarter valued at $26,299,000. Renaissance Technologies LLC acquired a new position in shares of Five Prime Therapeutics during the 1st quarter valued at $16,734,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Five Prime Therapeutics during the 1st quarter valued at $10,272,000. Marshall Wace North America L.P. acquired a new position in shares of Five Prime Therapeutics during the 1st quarter valued at $10,272,000. Finally, State Street Corp lifted its position in shares of Five Prime Therapeutics by 25.7% during the 1st quarter. State Street Corp now owns 1,249,520 shares of the biotechnology company’s stock valued at $45,175,000 after acquiring an additional 255,488 shares during the period. 84.08% of the stock is currently owned by institutional investors.
FPRX has been the topic of a number of research reports. ValuEngine upgraded shares of Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $52.00 target price on shares of Five Prime Therapeutics in a research report on Tuesday. Finally, BidaskClub downgraded shares of Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $60.80.
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Five Prime Therapeutics, Inc. (NASDAQ FPRX) traded down 1.64% on Thursday, reaching $34.87. 29,833 shares of the company’s stock traded hands. The company’s market cap is $975.84 million. The firm’s 50 day moving average price is $30.27 and its 200 day moving average price is $32.37. Five Prime Therapeutics, Inc. has a 12 month low of $25.97 and a 12 month high of $60.98.
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 the consensus estimate of ($1.15) by ($0.43). The company had revenue of $7.80 million during the quarter, compared to the consensus estimate of $8.32 million. Five Prime Therapeutics had a negative net margin of 356.39% and a negative return on equity of 31.78%. The business’s revenue was down 16.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.49) EPS. On average, equities analysts expect that Five Prime Therapeutics, Inc. will post ($5.16) EPS for the current fiscal year.
Five Prime Therapeutics Company Profile
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.
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