Insider Selling: FibroGen, Inc (FGEN) CEO Sells $2,125,752.72 in Stock
FibroGen, Inc (NASDAQ:FGEN) CEO Thomas B. Neff sold 38,636 shares of the business’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $55.02, for a total transaction of $2,125,752.72. Following the sale, the chief executive officer now directly owns 3,176,861 shares of the company’s stock, valued at $174,790,892.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
FibroGen, Inc (FGEN) opened at 54.65 on Friday. The company’s market capitalization is $3.89 billion. The firm has a 50-day moving average of $53.13 and a 200-day moving average of $37.30. FibroGen, Inc has a one year low of $15.60 and a one year high of $60.15.
FibroGen (NASDAQ:FGEN) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the consensus estimate 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, analysts anticipate that FibroGen, Inc will post ($1.81) earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its position in shares of FibroGen by 15.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,218 shares of the biopharmaceutical company’s stock worth $169,000 after acquiring an additional 696 shares in the last quarter. California State Teachers Retirement System raised its position in shares of FibroGen by 2.1% during the 2nd quarter. California State Teachers Retirement System now owns 105,288 shares of the biopharmaceutical company’s stock worth $3,401,000 after acquiring an additional 2,180 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of FibroGen by 12.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,284 shares of the biopharmaceutical company’s stock worth $1,495,000 after acquiring an additional 5,022 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of FibroGen during the 2nd quarter worth about $348,000. Finally, EcoR1 Capital LLC raised its position in shares of FibroGen by 3,674.1% during the 2nd quarter. EcoR1 Capital LLC now owns 1,585,457 shares of the biopharmaceutical company’s stock worth $51,210,000 after acquiring an additional 1,543,448 shares in the last quarter. 47.49% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on FGEN. Jefferies Group LLC began coverage on FibroGen in a report on Monday, July 10th. They issued a “buy” rating and a $50.00 price objective for the company. Leerink Swann restated an “outperform” rating and issued a $82.00 price objective (up from $52.00) on shares of FibroGen in a report on Tuesday, August 8th. William Blair restated an “outperform” rating on shares of FibroGen in a report on Wednesday, August 9th. BidaskClub upgraded FibroGen from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Finally, Citigroup Inc. lifted their price objective on FibroGen from $48.00 to $65.00 and gave the company a “top pick” rating in a report on Tuesday, August 8th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $65.67.
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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