Morgan Stanley Has $4.40 Million Position in Five Prime Therapeutics, Inc. (FPRX)
Morgan Stanley increased its position in shares of Five Prime Therapeutics, Inc. (NASDAQ:FPRX) by 12.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,684 shares of the biotechnology company’s stock after buying an additional 13,750 shares during the period. Morgan Stanley’s holdings in Five Prime Therapeutics were worth $4,399,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in FPRX. Teachers Advisors LLC raised its stake in Five Prime Therapeutics by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 238,428 shares of the biotechnology company’s stock worth $11,948,000 after buying an additional 1,558 shares during the period. Creative Planning raised its stake in Five Prime Therapeutics by 42.6% in the first quarter. Creative Planning now owns 6,690 shares of the biotechnology company’s stock worth $242,000 after buying an additional 2,000 shares during the period. Adams Diversified Equity Fund Inc. raised its stake in Five Prime Therapeutics by 56.3% in the first quarter. Adams Diversified Equity Fund Inc. now owns 18,600 shares of the biotechnology company’s stock worth $672,000 after buying an additional 6,700 shares during the period. Alliancebernstein L.P. raised its stake in Five Prime Therapeutics by 9.2% in the first quarter. Alliancebernstein L.P. now owns 97,770 shares of the biotechnology company’s stock worth $3,534,000 after buying an additional 8,220 shares during the period. Finally, Norges Bank bought a new stake in Five Prime Therapeutics during the fourth quarter worth approximately $7,080,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.
Shares of Five Prime Therapeutics, Inc. (NASDAQ FPRX) traded up 4.55% during mid-day trading on Friday, hitting $27.83. The stock had a trading volume of 348,917 shares. The firm’s market cap is $778.82 million. Five Prime Therapeutics, Inc. has a 52-week low of $25.97 and a 52-week high of $60.98. The stock’s 50-day moving average price is $29.46 and its 200-day moving average price is $34.75.
Five Prime Therapeutics (NASDAQ:FPRX) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($1.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.15) by $0.43. Five Prime Therapeutics had a negative net margin of 356.39% and a negative return on equity of 31.78%. The business had revenue of $7.80 million for the quarter, compared to analysts’ expectations of $8.32 million. During the same quarter in the previous year, the business posted ($0.49) earnings per share. Five Prime Therapeutics’s revenue for the quarter was down 16.1% on a year-over-year basis. On average, analysts anticipate that Five Prime Therapeutics, Inc. will post ($5.10) earnings per share for the current fiscal year.
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A number of research analysts have recently issued reports on FPRX shares. ValuEngine raised Five Prime Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Five Prime Therapeutics in a research note on Friday, May 5th. Zacks Investment Research raised Five Prime Therapeutics from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Wednesday, April 26th. Finally, BidaskClub downgraded 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 given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $60.80.
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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