Five Prime Therapeutics Inc (NASDAQ:FPRX) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,710,000 shares, a growth of 14.0% from the January 15th total of 1,500,000 shares. Based on an average daily volume of 488,500 shares, the short-interest ratio is currently 3.5 days. Currently, 4.8% of the shares of the company are short sold.
In other Five Prime Therapeutics news, major shareholder Bvf Partners L. P/Il bought 135,000 shares of the stock in a transaction on Monday, December 9th. The shares were purchased at an average price of $4.02 per share, with a total value of $542,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bvf Partners L. P/Il bought 1,120,010 shares of the stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of $3.40 per share, for a total transaction of $3,808,034.00. The disclosure for this purchase can be found here. Insiders bought 1,280,570 shares of company stock worth $5,612,631 over the last quarter. 7.10% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in shares of Five Prime Therapeutics by 8.9% during the 3rd quarter. Rhumbline Advisers now owns 57,190 shares of the biotechnology company’s stock valued at $222,000 after acquiring an additional 4,657 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Five Prime Therapeutics by 106.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 22,818 shares of the biotechnology company’s stock valued at $105,000 after acquiring an additional 11,764 shares during the period. Barclays PLC raised its position in Five Prime Therapeutics by 45.7% in the fourth quarter. Barclays PLC now owns 45,533 shares of the biotechnology company’s stock worth $209,000 after purchasing an additional 14,287 shares in the last quarter. California Public Employees Retirement System raised its position in Five Prime Therapeutics by 108.7% in the fourth quarter. California Public Employees Retirement System now owns 36,100 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 18,800 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Five Prime Therapeutics during the fourth quarter worth about $94,000. Hedge funds and other institutional investors own 72.75% of the company’s stock.
NASDAQ FPRX opened at $4.53 on Friday. The company has a current ratio of 6.93, a quick ratio of 6.93 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $5.01 and a 200 day simple moving average of $4.67. Five Prime Therapeutics has a twelve month low of $3.18 and a twelve month high of $13.84.
Several equities research analysts have recently weighed in on the company. ValuEngine raised Five Prime Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Guggenheim started coverage on shares of Five Prime Therapeutics in a research report on Wednesday, November 20th. They set a “hold” rating on the stock. Zacks Investment Research raised shares of Five Prime Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Cowen reiterated a “buy” rating on shares of Five Prime Therapeutics in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Five Prime Therapeutics has a consensus rating of “Hold” and an average price target of $14.67.
Five Prime Therapeutics Company Profile
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 III clinical trials to treat patients with gastric or gastroesophageal junction and GEJ cancer; and FPA150, a CD8 T cell checkpoint inhibitor antibody that targets B7-H4 in various cancers, as well as FPT155, a soluble CD80 fusion protein that enhances co-stimulation of T cells through CD28.
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