Victory Capital Management Inc. Takes $606,000 Position in FibroGen, Inc (FGEN)

Victory Capital Management Inc. bought a new stake in shares of FibroGen, Inc (NASDAQ:FGEN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,260 shares of the biopharmaceutical company’s stock, valued at approximately $606,000.

Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in shares of FibroGen by 261.5% in the 3rd quarter. First Trust Advisors LP now owns 67,042 shares of the biopharmaceutical company’s stock worth $3,607,000 after purchasing an additional 48,494 shares during the period. Boston Advisors LLC lifted its position in shares of FibroGen by 14.9% in the 3rd quarter. Boston Advisors LLC now owns 201,125 shares of the biopharmaceutical company’s stock worth $10,821,000 after purchasing an additional 26,120 shares during the period. Nationwide Fund Advisors lifted its position in shares of FibroGen by 9.3% in the 3rd quarter. Nationwide Fund Advisors now owns 234,753 shares of the biopharmaceutical company’s stock worth $12,630,000 after purchasing an additional 19,954 shares during the period. Fox Run Management L.L.C. purchased a new position in FibroGen during the 3rd quarter valued at about $942,000. Finally, Strs Ohio lifted its position in FibroGen by 15.3% during the 3rd quarter. Strs Ohio now owns 164,900 shares of the biopharmaceutical company’s stock valued at $8,871,000 after acquiring an additional 21,900 shares during the period. 57.42% of the stock is currently owned by institutional investors.

FibroGen, Inc (NASDAQ FGEN) opened at $44.50 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.83 and a quick ratio of 10.83. FibroGen, Inc has a 1-year low of $19.25 and a 1-year high of $60.15.

In related news, VP Pat Cotroneo sold 2,851 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $49.45, for a total transaction of $140,981.95. Following the sale, the vice president now owns 157,405 shares of the company’s stock, valued at $7,783,677.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider K Peony Yu sold 15,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $60.00, for a total transaction of $900,000.00. The disclosure for this sale can be found here. Insiders sold 399,982 shares of company stock worth $21,250,362 in the last three months. Insiders own 13.60% of the company’s stock.

FGEN has been the subject of a number of recent research reports. Jefferies Group reissued a “buy” rating and set a $75.00 price target on shares of FibroGen in a research report on Tuesday, September 12th. Leerink Swann restated an “outperform” rating and set a $82.00 price objective (up from $52.00) on shares of FibroGen in a research note on Tuesday, August 8th. Stifel Nicolaus raised their price objective on shares of FibroGen from $38.00 to $80.00 and gave the company a “buy” rating 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. Finally, Mizuho assumed coverage on shares of FibroGen in a research note on Wednesday, October 4th. They issued a “neutral” rating and a $61.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. FibroGen presently has a consensus rating of “Buy” and an average target price of $65.67.

COPYRIGHT VIOLATION NOTICE: This piece was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another website, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2017/12/05/11260-shares-in-fibrogen-inc-fgen-acquired-by-victory-capital-management-inc.html.

About FibroGen

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.

Institutional Ownership by Quarter for FibroGen (NASDAQ:FGEN)

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

Leave a Reply