Five Prime Therapeutics (NASDAQ:FPRX) Trading Up 17.6% on Insider Buying Activity

Five Prime Therapeutics Inc (NASDAQ:FPRX) shares shot up 17.6% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $4.55 and last traded at $4.34, 1,067,640 shares were traded during mid-day trading. An increase of 183% from the average session volume of 376,882 shares. The stock had previously closed at $3.69.

Specifically, major shareholder Bvf Partners L. P/Il purchased 525,070 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was acquired at an average cost of $3.75 per share, with a total value of $1,969,012.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Value Fund L. P. Biotechnology purchased 601,482 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average cost of $3.74 per share, with a total value of $2,249,542.68. Over the last three months, insiders have purchased 1,142,552 shares of company stock valued at $4,278,395. 7.10% of the stock is currently owned by insiders.

FPRX has been the subject of several recent analyst reports. ValuEngine raised shares of Five Prime Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Five Prime Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Guggenheim downgraded shares of Five Prime Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $14.40.

The company has a market cap of $135.72 million, a price-to-earnings ratio of -1.05 and a beta of 2.57. The company has a quick ratio of 6.87, a current ratio of 6.87 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $5.11 and its two-hundred day moving average price is $7.66.

Five Prime Therapeutics (NASDAQ:FPRX) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.09). The company had revenue of $3.33 million during the quarter, compared to analyst estimates of $5.53 million. Five Prime Therapeutics had a negative net margin of 842.84% and a negative return on equity of 62.13%. On average, equities research analysts predict that Five Prime Therapeutics Inc will post -3.91 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Walleye Trading Advisors LLC acquired a new position in Five Prime Therapeutics during the second quarter worth $286,000. Walleye Trading LLC acquired a new position in Five Prime Therapeutics during the second quarter worth $314,000. Nuveen Asset Management LLC acquired a new position in Five Prime Therapeutics during the second quarter worth $3,128,000. Jane Street Group LLC acquired a new position in Five Prime Therapeutics during the second quarter worth $311,000. Finally, Citadel Advisors LLC boosted its holdings in Five Prime Therapeutics by 508.2% during the second quarter. Citadel Advisors LLC now owns 157,475 shares of the biotechnology company’s stock worth $950,000 after purchasing an additional 131,583 shares during the last quarter. Institutional investors and hedge funds own 74.22% of the company’s stock.

Five Prime Therapeutics Company Profile (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 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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