BlackRock Inc. grew its position in shares of FibroGen, Inc (NASDAQ:FGEN) by 12.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,001,406 shares of the biopharmaceutical company’s stock after purchasing an additional 546,587 shares during the period. BlackRock Inc. owned approximately 7.15% of FibroGen worth $161,545,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of FibroGen by 6.5% during the second quarter. SG Americas Securities LLC now owns 6,747 shares of the biopharmaceutical company’s stock valued at $218,000 after purchasing an additional 412 shares during the period. Principal Financial Group Inc. raised its stake in shares of FibroGen by 0.4% during the first quarter. Principal Financial Group Inc. now owns 136,045 shares of the biopharmaceutical company’s stock valued at $3,354,000 after purchasing an additional 504 shares during the period. OppenheimerFunds Inc. raised its stake in shares of FibroGen by 0.3% during the first quarter. OppenheimerFunds Inc. now owns 356,236 shares of the biopharmaceutical company’s stock valued at $8,781,000 after purchasing an additional 1,066 shares during the period. American International Group Inc. raised its stake in shares of FibroGen by 7.1% during the first quarter. American International Group Inc. now owns 32,248 shares of the biopharmaceutical company’s stock valued at $795,000 after purchasing an additional 2,134 shares during the period. Finally, Strs Ohio raised its stake in shares of FibroGen by 1.6% during the second quarter. Strs Ohio now owns 143,000 shares of the biopharmaceutical company’s stock valued at $4,618,000 after purchasing an additional 2,300 shares during the period. Institutional investors own 47.49% of the company’s stock.
A number of research firms have recently issued reports on FGEN. Jefferies Group LLC began coverage on shares of FibroGen in a research note on Monday, July 10th. They set a “buy” rating and a $50.00 price objective on the stock. Leerink Swann restated an “outperform” rating and issued a $82.00 price target (up previously from $52.00) on shares of FibroGen in a research note on Tuesday, August 8th. William Blair restated an “outperform” rating on shares of FibroGen in a research note on Wednesday, August 9th. Citigroup Inc. lifted their price target on shares of FibroGen from $48.00 to $65.00 and gave the stock a “top pick” rating in a research note on Tuesday, August 8th. Finally, BidaskClub upgraded shares of FibroGen from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 24th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $65.67.
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Shares of FibroGen, Inc (NASDAQ:FGEN) opened at 55.825 on Friday. The company has a 50 day moving average of $51.43 and a 200-day moving average of $36.02. FibroGen, Inc has a 52 week low of $15.60 and a 52 week high of $60.15. The company’s market cap is $3.97 billion.
FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.01). FibroGen had a negative return on equity of 64.42% and a negative net margin of 105.59%. The business had revenue of $29.00 million for the quarter, compared to analyst estimates of $34.80 million. On average, equities research analysts expect that FibroGen, Inc will post ($1.81) earnings per share for the current fiscal year.
In other news, Director Kalevi Kurkijarvi sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $33.45, for a total transaction of $66,900.00. Following the completion of the transaction, the director now directly owns 32,000 shares in the company, valued at $1,070,400. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider K Peony Yu sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $60.00, for a total value of $900,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 552,828 shares of company stock valued at $26,593,147. Corporate insiders own 14.90% of the company’s stock.
FibroGen Company Profile
FibroGen, Inc is a science-based biopharmaceutical company discovering and developing a pipeline of first- in-class therapeutics. The Company is focused on fibrosis and hypoxia-inducible factor (HIF) biology and clinical development to advance innovative medicines for the treatment of anemia, fibrotic disease, and cancer.
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