FibroGen (FGEN) Reaches New 52-Week Low After Insider Selling

FibroGen Inc (NASDAQ:FGEN) shares hit a new 52-week low during mid-day trading on Friday following insider selling activity. The stock traded as low as $37.64 and last traded at $37.97, with a volume of 960775 shares changing hands. The stock had previously closed at $40.93.

Specifically, SVP Pat Cotroneo sold 1,011 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $57.35, for a total transaction of $57,980.85. Following the completion of the transaction, the senior vice president now owns 220,422 shares of the company’s stock, valued at approximately $12,641,201.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorma Routti sold 6,000 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $57.31, for a total transaction of $343,860.00. Following the completion of the transaction, the director now directly owns 137,540 shares of the company’s stock, valued at approximately $7,882,417.40. The disclosure for this sale can be found here. Insiders have sold a total of 229,773 shares of company stock valued at $11,424,203 in the last three months. Insiders own 8.96% of the company’s stock.

A number of research analysts recently commented on FGEN shares. ValuEngine downgraded shares of FibroGen from a “strong-buy” rating to a “buy” rating in a report on Monday, September 17th. Leerink Swann set a $82.00 price target on shares of FibroGen and gave the company a “buy” rating in a report on Tuesday, September 11th. BidaskClub downgraded shares of FibroGen from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Zacks Investment Research raised shares of FibroGen from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Wednesday, October 17th. Finally, TheStreet downgraded shares of FibroGen from a “c-” rating to a “d+” rating in a report on Wednesday, November 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $72.25.

The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.76 and a current ratio of 6.76. The company has a market capitalization of $3.51 billion, a PE ratio of -21.95 and a beta of 2.13.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.15). The firm had revenue of $29.00 million during the quarter, compared to the consensus estimate of $36.48 million. FibroGen had a negative return on equity of 24.59% and a negative net margin of 87.84%. FibroGen’s quarterly revenue was down 28.6% compared to the same quarter last year. Equities analysts anticipate that FibroGen Inc will post -1.55 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of FGEN. Vanguard Group Inc. increased its holdings in FibroGen by 1.8% in the third quarter. Vanguard Group Inc. now owns 6,921,874 shares of the biopharmaceutical company’s stock valued at $420,503,000 after buying an additional 125,186 shares in the last quarter. MetLife Investment Advisors LLC increased its holdings in FibroGen by 49.7% in the third quarter. MetLife Investment Advisors LLC now owns 51,056 shares of the biopharmaceutical company’s stock valued at $3,102,000 after buying an additional 16,945 shares in the last quarter. Castleark Management LLC purchased a new position in FibroGen in the third quarter valued at $4,567,000. Man Group plc increased its stake in shares of FibroGen by 151.5% during the third quarter. Man Group plc now owns 256,853 shares of the biopharmaceutical company’s stock worth $15,603,000 after purchasing an additional 154,719 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of FibroGen during the third quarter worth about $246,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

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About FibroGen (NASDAQ:FGEN)

FibroGen, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes therapeutic agents 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; Pamrevlumab, a human-monoclonal antibody that inhibits the activity of connective tissue growth factor, which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and Duchenne muscular dystrophy; and FG-5200, a corneal implant medical device for the treatment of corneal blindness resulting from partial thickness corneal damage.

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