Pfenex (NYSEAMERICAN:PFNX) Trading 7.7% Higher

Shares of Pfenex Inc (NYSEAMERICAN:PFNX) traded up 7.7% during mid-day trading on Thursday . The company traded as high as $6.70 and last traded at $6.61, 418,353 shares changed hands during trading. An increase of 165% from the average session volume of 157,628 shares. The stock had previously closed at $6.14.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Thursday. William Blair restated a “buy” rating on shares of Pfenex in a report on Tuesday, April 2nd.

Pfenex (NYSEAMERICAN:PFNX) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.13. The firm had revenue of $10.36 million for the quarter, compared to the consensus estimate of $5.63 million.

Several institutional investors and hedge funds have recently made changes to their positions in PFNX. Norges Bank acquired a new position in shares of Pfenex during the fourth quarter valued at about $976,000. RK Capital Management LLC acquired a new position in shares of Pfenex during the first quarter valued at about $1,864,000. BlackRock Inc. raised its position in shares of Pfenex by 4.7% during the fourth quarter. BlackRock Inc. now owns 1,622,574 shares of the biotechnology company’s stock valued at $5,177,000 after buying an additional 72,184 shares during the last quarter. Millennium Management LLC raised its position in Pfenex by 496.1% in the fourth quarter. Millennium Management LLC now owns 75,364 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 62,722 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Pfenex by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 676,046 shares of the biotechnology company’s stock worth $2,157,000 after purchasing an additional 31,132 shares in the last quarter.

About Pfenex (NYSEAMERICAN:PFNX)

Pfenex Inc, a clinical-stage development and licensing biotechnology company, focuses on developing protein therapies for unmet patient needs. Its lead product candidates include PF708, a therapeutic equivalent drug candidate to Forteo (teriparatide) for the treatment of osteoporosis; and novel anthrax vaccine candidates, such as Px563L and RPA563 that have completed Phase Ia clinical study.

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