Legal & General Group Plc Increases Stake in Pfenex Inc (NYSEMKT:PFNX)

Legal & General Group Plc lifted its position in Pfenex Inc (NYSEMKT:PFNX) by 2,567.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,249 shares of the biotechnology company’s stock after acquiring an additional 106,116 shares during the quarter. Legal & General Group Plc owned 0.47% of Pfenex worth $442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sanders Morris Harris LLC boosted its position in Pfenex by 79.9% during the 2nd quarter. Sanders Morris Harris LLC now owns 745,687 shares of the biotechnology company’s stock valued at $2,990,000 after purchasing an additional 331,167 shares during the period. FMR LLC boosted its position in Pfenex by 25.7% during the 1st quarter. FMR LLC now owns 344,677 shares of the biotechnology company’s stock valued at $2,003,000 after purchasing an additional 70,577 shares during the period. Renaissance Technologies LLC boosted its position in Pfenex by 148.5% during the 1st quarter. Renaissance Technologies LLC now owns 325,800 shares of the biotechnology company’s stock worth $1,893,000 after acquiring an additional 194,700 shares during the period. Marshall Wace North America L.P. acquired a new position in Pfenex during the 1st quarter worth $1,759,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Pfenex during the 1st quarter worth $1,759,000.

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Shares of Pfenex Inc (NYSEMKT:PFNX) opened at 2.60 on Tuesday. Pfenex Inc has a 12 month low of $2.71 and a 12 month high of $11.35. The firm has a market capitalization of $61.17 million, a price-to-earnings ratio of 41.94 and a beta of 4.65. The stock’s 50 day moving average price is $3.22 and its 200-day moving average price is $4.14.

Pfenex (NYSEMKT:PFNX) last issued its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.06). Pfenex had a negative return on equity of 75.61% and a negative net margin of 406.87%. The business had revenue of $3.03 million during the quarter, compared to the consensus estimate of $3.10 million. During the same period in the prior year, the firm earned ($0.43) EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that Pfenex Inc will post ($2.09) EPS for the current fiscal year.

A number of research analysts have issued reports on the company. Zacks Investment Research lowered Pfenex from a “buy” rating to a “hold” rating in a research report on Saturday, July 15th. William Blair reissued an “outperform” rating on shares of Pfenex in a research note on Monday, June 26th. Finally, ValuEngine downgraded Pfenex from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st.

Pfenex Company Profile

Pfenex Inc is a clinical-stage biotechnology company. The Company is engaged in the development of biosimilar and therapeutic equivalent products to branded therapeutics and other high-value and difficult-to-manufacture proteins. Its lead product candidate is PF582, a biosimilar candidate to Lucentis (ranibizumab).

Institutional Ownership by Quarter for Pfenex (NYSEMKT:PFNX)

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