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.
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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.
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