Pinnacle Associates Ltd. lowered its position in shares of FibroGen Inc (NASDAQ:FGEN) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 558,223 shares of the biopharmaceutical company’s stock after selling 49,720 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.68% of FibroGen worth $26,460,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in FGEN. Eagle Asset Management Inc. acquired a new position in shares of FibroGen during the third quarter valued at approximately $46,158,000. First Trust Advisors LP raised its holdings in shares of FibroGen by 1,058.4% during the fourth quarter. First Trust Advisors LP now owns 776,640 shares of the biopharmaceutical company’s stock valued at $36,813,000 after acquiring an additional 709,598 shares during the last quarter. State Street Corp raised its holdings in shares of FibroGen by 16.4% during the second quarter. State Street Corp now owns 1,763,387 shares of the biopharmaceutical company’s stock valued at $56,962,000 after acquiring an additional 248,922 shares during the last quarter. BlackRock Inc. raised its holdings in shares of FibroGen by 4.0% during the fourth quarter. BlackRock Inc. now owns 6,326,075 shares of the biopharmaceutical company’s stock valued at $299,855,000 after acquiring an additional 244,617 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of FibroGen during the third quarter valued at approximately $12,105,000. 59.24% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Thomas B. Neff sold 18,900 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $42.71, for a total value of $807,219.00. Following the completion of the sale, the chief executive officer now owns 3,060,887 shares of the company’s stock, valued at $130,730,483.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jorma Routti sold 12,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $47.25, for a total value of $567,000.00. Following the completion of the sale, the director now directly owns 133,840 shares of the company’s stock, valued at approximately $6,323,940. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,017 shares of company stock valued at $17,863,586. Insiders own 13.60% of the company’s stock.
Shares of FibroGen Inc (NASDAQ:FGEN) opened at $56.00 on Thursday. FibroGen Inc has a fifty-two week low of $22.75 and a fifty-two week high of $63.00. The company has a current ratio of 10.83, a quick ratio of 10.83 and a debt-to-equity ratio of 0.16.
FGEN has been the subject of a number of research analyst reports. Mizuho reissued a “hold” rating and set a $61.00 target price on shares of FibroGen in a report on Thursday, November 9th. ValuEngine cut FibroGen from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, BidaskClub cut FibroGen from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued 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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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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