Pfenex Inc (NYSEAMERICAN:PFNX) saw a large decline in short interest in the month of September. As of September 14th, there was short interest totalling 662,308 shares, a decline of 0.8% from the August 31st total of 667,417 shares. Based on an average daily volume of 222,583 shares, the days-to-cover ratio is currently 3.0 days. Currently, 2.2% of the shares of the company are sold short.
In other Pfenex news, insider Evert B. Schimmelpennink bought 10,000 shares of the stock in a transaction on Tuesday, September 11th. The shares were acquired at an average price of $5.04 per share, with a total value of $50,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Phillip M. Schneider bought 11,000 shares of the stock in a transaction on Tuesday, September 11th. The shares were acquired at an average cost of $4.99 per share, for a total transaction of $54,890.00. The disclosure for this purchase can be found here. Insiders purchased a total of 26,000 shares of company stock worth $129,540 in the last ninety days.
A number of hedge funds have recently modified their holdings of the business. Blair William & Co. IL increased its holdings in shares of Pfenex by 60.9% in the first quarter. Blair William & Co. IL now owns 1,369,920 shares of the biotechnology company’s stock worth $8,220,000 after purchasing an additional 518,672 shares during the period. BlackRock Inc. increased its holdings in shares of Pfenex by 257.1% in the second quarter. BlackRock Inc. now owns 1,316,873 shares of the biotechnology company’s stock worth $7,125,000 after purchasing an additional 948,102 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Pfenex by 17.3% in the second quarter. Dimensional Fund Advisors LP now owns 529,493 shares of the biotechnology company’s stock worth $2,865,000 after purchasing an additional 78,182 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Pfenex in the second quarter worth $2,306,000. Finally, C WorldWide Group Holding A S increased its holdings in shares of Pfenex by 80.4% in the second quarter. C WorldWide Group Holding A S now owns 363,068 shares of the biotechnology company’s stock worth $1,964,000 after purchasing an additional 161,794 shares during the period.
A number of brokerages have issued reports on PFNX. Zacks Investment Research raised shares of Pfenex from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a report on Thursday, July 12th. William Blair reissued an “outperform” rating on shares of Pfenex in a report on Monday, September 10th.
Shares of PFNX stock opened at $5.09 on Friday. Pfenex has a 1 year low of $2.07 and a 1 year high of $8.42.
Pfenex (NYSEAMERICAN:PFNX) last issued its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.05). Pfenex had a negative net margin of 175.52% and a negative return on equity of 63.57%. The business had revenue of $4.19 million for the quarter, compared to the consensus estimate of $5.55 million.
Pfenex Inc, a clinical-stage biotechnology company, develops biosimilar therapeutics in the United States. The company's lead product candidates include PF708, a therapeutic equivalent candidate to Forteo (teriparatide) for the treatment of osteoporosis; and novel anthrax vaccine candidates, such as Px563L and RPA563 that are in Phase I study.
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