Royal Bank of Canada Cuts Holdings in FibroGen, Inc (FGEN)
Royal Bank of Canada cut its holdings in shares of FibroGen, Inc (NASDAQ:FGEN) by 42.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,953 shares of the biopharmaceutical company’s stock after selling 10,104 shares during the period. Royal Bank of Canada’s holdings in FibroGen were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in FibroGen during the 2nd quarter valued at about $128,000. SG Americas Securities LLC lifted its position in FibroGen by 6.5% during the 2nd 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. Amalgamated Bank acquired a new position in FibroGen during the 2nd quarter valued at about $237,000. BNP Paribas Arbitrage SA increased its stake in shares of FibroGen by 589.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,401 shares of the biopharmaceutical company’s stock valued at $239,000 after acquiring an additional 6,327 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of FibroGen by 107.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 8,694 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 4,494 shares during the last quarter. Institutional investors own 46.93% of the company’s stock.
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FGEN has been the subject of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price target on shares of FibroGen in a research note on Thursday, September 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $75.00 price target on shares of FibroGen in a research note on Tuesday, September 12th. BidaskClub cut FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Mizuho reaffirmed a “hold” rating and issued a $61.00 price target on shares of FibroGen in a research note on Thursday, November 9th. Finally, Goldman Sachs Group, Inc. (The) cut FibroGen from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a research note on Friday, July 21st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. FibroGen has an average rating of “Buy” and a consensus price target of $65.67.
Shares of FibroGen, Inc (NASDAQ FGEN) opened at $46.20 on Tuesday. FibroGen, Inc has a 52 week low of $19.25 and a 52 week high of $60.15. The company has a quick ratio of 10.83, a current ratio of 10.83 and a debt-to-equity ratio of 0.16.
In related news, CEO Thomas B. Neff sold 38,636 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $56.13, for a total transaction of $2,168,638.68. Following the completion of the sale, the chief executive officer now directly owns 3,144,573 shares of the company’s stock, valued at approximately $176,504,882.49. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider K Peony Yu sold 7,500 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $55.37, for a total value of $415,275.00. Following the sale, the insider now directly owns 170,104 shares of the company’s stock, valued at $9,418,658.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 428,118 shares of company stock valued at $22,355,896. 14.90% of the stock is owned by company insiders.
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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