FibroGen Inc (NASDAQ:FGEN) Shares Sold by BlackRock Inc.

BlackRock Inc. reduced its position in shares of FibroGen Inc (NASDAQ:FGEN) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,172,887 shares of the biopharmaceutical company’s stock after selling 136,356 shares during the period. BlackRock Inc. owned approximately 7.16% of FibroGen worth $335,497,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in FibroGen during the fourth quarter worth about $2,391,000. Two Sigma Investments LP acquired a new position in FibroGen during the fourth quarter worth about $1,095,000. Norges Bank acquired a new position in FibroGen during the fourth quarter worth about $32,604,000. JOYN Advisors Inc. acquired a new position in FibroGen during the fourth quarter worth about $118,000. Finally, Geode Capital Management LLC grew its holdings in FibroGen by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 880,102 shares of the biopharmaceutical company’s stock worth $40,731,000 after acquiring an additional 50,330 shares during the period. 66.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FGEN opened at $40.20 on Thursday. The stock has a market capitalization of $3.40 billion, a P/E ratio of -39.03 and a beta of 1.75. FibroGen Inc has a 1-year low of $33.51 and a 1-year high of $68.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.16 and a current ratio of 6.16.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.15. The firm had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $20.44 million. FibroGen had a negative return on equity of 17.71% and a negative net margin of 44.14%. FibroGen’s revenue was down 25.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.50) EPS. As a group, equities analysts forecast that FibroGen Inc will post -0.87 EPS for the current year.

In other FibroGen news, SVP Pat Cotroneo sold 7,665 shares of FibroGen stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $55.41, for a total transaction of $424,717.65. Following the transaction, the senior vice president now owns 239,504 shares of the company’s stock, valued at approximately $13,270,916.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Christine Chung sold 11,250 shares of FibroGen stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $46.41, for a total value of $522,112.50. Following the transaction, the senior vice president now directly owns 163,562 shares in the company, valued at approximately $7,590,912.42. The disclosure for this sale can be found here. Insiders sold a total of 251,495 shares of company stock worth $11,234,313 in the last three months. 7.83% of the stock is currently owned by company insiders.

A number of research firms recently issued reports on FGEN. Mizuho lowered their target price on FibroGen from $74.00 to $65.00 and set a “positive” rating on the stock in a report on Friday, May 10th. William Blair lowered FibroGen from an “outperform” rating to a “market perform” rating in a report on Friday, May 10th. TheStreet lowered FibroGen from a “c-” rating to a “d+” rating in a report on Friday, May 24th. Piper Jaffray Companies reaffirmed a “positive” rating and set a $40.00 target price (down from $65.00) on shares of FibroGen in a report on Monday, May 27th. Finally, BidaskClub raised FibroGen from a “sell” rating to a “hold” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. FibroGen has a consensus rating of “Buy” and a consensus target price of $61.57.

ILLEGAL ACTIVITY WARNING: This report was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.americanbankingnews.com/2019/06/13/fibrogen-inc-nasdaqfgen-shares-sold-by-blackrock-inc.html.

FibroGen Profile

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. It is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases (HIF-PHs) that is in Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States and Europe; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

Recommended Story: What are gap-up stocks?

Want to see what other hedge funds are holding FGEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FibroGen Inc (NASDAQ:FGEN).

Institutional Ownership by Quarter for FibroGen (NASDAQ:FGEN)

Receive News & Ratings for FibroGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FibroGen and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply