Pictet Asset Management Ltd. boosted its position in Five Prime Therapeutics, Inc. (NASDAQ:FPRX) by 26.9% during the second quarter, Holdings Channel reports. The institutional investor owned 309,225 shares of the biotechnology company’s stock after buying an additional 65,550 shares during the period. Pictet Asset Management Ltd.’s holdings in Five Prime Therapeutics were worth $8,736,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Creative Planning raised its stake in shares of Five Prime Therapeutics by 0.8% in the second quarter. Creative Planning now owns 6,744 shares of the biotechnology company’s stock worth $203,000 after buying an additional 54 shares in the last quarter. Laurion Capital Management LP purchased a new stake in shares of Five Prime Therapeutics during the first quarter worth about $210,000. Rockefeller Financial Services Inc. purchased a new stake in shares of Five Prime Therapeutics during the second quarter worth about $210,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Five Prime Therapeutics during the first quarter worth about $254,000. Finally, Arxis Securities LLC purchased a new stake in shares of Five Prime Therapeutics during the first quarter worth about $267,000. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Five Prime Therapeutics, Inc. (NASDAQ:FPRX) opened at 27.83 on Tuesday. Five Prime Therapeutics, Inc. has a 1-year low of $25.97 and a 1-year high of $60.98. The firm’s 50-day moving average price is $29.36 and its 200-day moving average price is $34.50. The firm’s market cap is $778.82 million.

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 for the quarter, compared to analysts’ expectations of $8.32 million. Five Prime Therapeutics had a negative return on equity of 31.78% and a negative net margin of 356.39%. The business’s quarterly revenue was down 16.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.49) EPS. On average, equities research analysts anticipate that Five Prime Therapeutics, Inc. will post ($5.10) earnings per share for the current year.

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FPRX has been the topic of a number of research analyst reports. Zacks Investment Research raised Five Prime Therapeutics from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 price target (down from $55.00) on shares of Five Prime Therapeutics in a research note on Thursday, August 10th. ValuEngine raised Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered Five Prime Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Five Prime Therapeutics presently has a consensus rating of “Hold” and an average price target 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.

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Institutional Ownership by Quarter for Five Prime Therapeutics (NASDAQ:FPRX)

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