KCG Holdings Inc. Has $156,000 Stake in Peregrine Pharmaceuticals Inc. (PPHM)

KCG Holdings Inc. increased its position in Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) by 941.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 238,906 shares of the biopharmaceutical company’s stock after buying an additional 215,967 shares during the period. KCG Holdings Inc. owned 0.08% of Peregrine Pharmaceuticals worth $156,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in Peregrine Pharmaceuticals by 24.4% in the first quarter. Renaissance Technologies LLC now owns 3,077,652 shares of the biopharmaceutical company’s stock worth $2,013,000 after buying an additional 603,806 shares during the period. Kennedy Capital Management Inc. increased its position in Peregrine Pharmaceuticals by 15.2% in the first quarter. Kennedy Capital Management Inc. now owns 8,730,392 shares of the biopharmaceutical company’s stock valued at $5,710,000 after buying an additional 1,154,639 shares during the last quarter. Geode Capital Management LLC increased its position in Peregrine Pharmaceuticals by 31.6% in the first quarter. Geode Capital Management LLC now owns 1,437,491 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 344,811 shares during the last quarter. Bank of New York Mellon Corp increased its position in Peregrine Pharmaceuticals by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 198,296 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 3,732 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Peregrine Pharmaceuticals by 495.7% in the first quarter. Wells Fargo & Company MN now owns 228,628 shares of the biopharmaceutical company’s stock valued at $149,000 after buying an additional 190,250 shares during the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.

Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) opened at 3.23 on Friday. The company’s 50-day moving average is $4.28 and its 200 day moving average is $1.53. Peregrine Pharmaceuticals Inc. has a 52 week low of $1.97 and a 52 week high of $5.78. The stock’s market cap is $145.57 million.

Peregrine Pharmaceuticals (NASDAQ:PPHM) last issued its quarterly earnings data on Friday, July 14th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. Peregrine Pharmaceuticals had a negative return on equity of 63.75% and a negative net margin of 48.86%. The business had revenue of $17.90 million during the quarter, compared to the consensus estimate of $22.57 million. During the same quarter last year, the company earned ($0.05) EPS. Peregrine Pharmaceuticals’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts expect that Peregrine Pharmaceuticals Inc. will post ($0.40) earnings per share for the current fiscal year.

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Several research firms have recently weighed in on PPHM. Noble Financial reiterated a “buy” rating on shares of Peregrine Pharmaceuticals in a research note on Monday, July 31st. Zacks Investment Research downgraded shares of Peregrine Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. BidaskClub upgraded shares of Peregrine Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, July 17th. Finally, ValuEngine upgraded shares of Peregrine Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Peregrine Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $5.25.

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals, Inc (Peregrine) is a biopharmaceutical company. The Company operates through two segments: Peregrine, which is engaged in the research and development of monoclonal antibodies for the treatment of cancer, and Avid, which is engaged in providing contract manufacturing services for third party customers on a fee-for-service basis while also supporting its internal drug development efforts.

Institutional Ownership by Quarter for Peregrine Pharmaceuticals (NASDAQ:PPHM)

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