Pfenex (NYSEAMERICAN:PFNX) Trading 7.7% Higher

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

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

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

Large investors have recently made changes to their positions in the business. Weiss Asset Management LP acquired a new position in shares of Pfenex in the first quarter worth $81,000. RK Capital Management LLC acquired a new position in shares of Pfenex in the first quarter worth $1,864,000. Falcon Point Capital LLC increased its stake in shares of Pfenex by 3.5% in the first quarter. Falcon Point Capital LLC now owns 83,005 shares of the biotechnology company’s stock worth $513,000 after acquiring an additional 2,800 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Pfenex by 2,127.7% in the first quarter. BNP Paribas Arbitrage SA now owns 6,037 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 5,766 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Pfenex in the fourth quarter worth $976,000.

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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