Today, Alps Advisors Inc. cuts position of Five Prime Therapeutics Inc. (FPRX)

Today, Alps Advisors Inc. cuts position of Five Prime Therapeutics Inc. (FPRX)
Alps Advisors Inc. decreased its stake in shares of Five Prime Therapeutics Inc. (NASDAQ:FPRX) by 13.8% during the third quarter, Holdings Channel reports. The firm owned 44,803 shares of the company’s stock after selling 7,191 shares during the period. Alps Advisors Inc. owned about 0.17% of Five Prime Therapeutics worth $2,352,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its position in Five Prime Therapeutics by 26.8% in the first quarter. State Street Corp now owns 823,188 shares of the company’s stock valued at $33,443,000 after buying an additional 173,838 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Five Prime Therapeutics during the second quarter valued at about $447,000. Hays Advisory LLC bought a new position in Five Prime Therapeutics during the second quarter valued at about $5,612,000. Acadian Asset Management LLC boosted its position in Five Prime Therapeutics by 112.1% in the second quarter. Acadian Asset Management LLC now owns 1,094,368 shares of the company’s stock valued at $45,250,000 after buying an additional 578,411 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Five Prime Therapeutics during the second quarter valued at about $268,000. 91.16% of the stock is currently owned by institutional investors.

Shares of Five Prime Therapeutics Inc. (NASDAQ:FPRX) traded up 0.96% during trading on Friday, hitting $60.89. 132,890 shares of the stock traded hands. Five Prime Therapeutics Inc. has a 52-week low of $28.01 and a 52-week high of $60.98. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 6.80 and a beta of 4.48. The stock has a 50 day moving average of $51.73 and a 200 day moving average of $47.31.

Five Prime Therapeutics (NASDAQ:FPRX) last posted its earnings results on Thursday, November 3rd. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by $0.21. Five Prime Therapeutics had a net margin of 64.94% and a return on equity of 59.23%. The company earned $6.70 million during the quarter, compared to analysts’ expectations of $7.50 million. During the same quarter last year, the firm earned ($0.93) EPS. Five Prime Therapeutics’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts expect that Five Prime Therapeutics Inc. will post ($2.18) EPS for the current year.

Several equities analysts have issued reports on FPRX shares. Jefferies Group set a $60.00 target price on shares of Five Prime Therapeutics and gave the company a “buy” rating in a research note on Friday, August 5th. Credit Suisse Group AG restated a “buy” rating and set a $54.00 target price on shares of Five Prime Therapeutics in a research note on Monday, November 7th. Citigroup Inc. started coverage on shares of Five Prime Therapeutics in a research note on Tuesday, October 25th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Leerink Swann restated an “outperform” rating and set a $58.00 target price (up previously from $45.00) on shares of Five Prime Therapeutics in a research note on Monday, August 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Five Prime Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $54.43.

In other Five Prime Therapeutics news, Director William R. Ringo sold 500 shares of Five Prime Therapeutics stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $52.00, for a total value of $26,000.00. Following the transaction, the director now owns 500 shares in the company, valued at $26,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peder Jensen sold 8,130 shares of Five Prime Therapeutics stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $55.30, for a total value of $449,589.00. Following the completion of the transaction, the director now owns 4,065 shares in the company, valued at approximately $224,794.50. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Five Prime Therapeutics Company Profile

Five Prime Therapeutics, Inc (Five Prime) is a clinical-stage biotechnology company focused on discovering and developing protein therapeutics. The Company has three product candidates in clinical development covering multiple potential indications. It focuses on immuno-oncology, an area in which it has clinical and discovery programs, and product and discovery collaborations.

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