State Street Corp increased its stake in shares of FibroGen, Inc (NASDAQ:FGEN) by 11.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,514,465 shares of the biopharmaceutical company’s stock after buying an additional 150,807 shares during the period. State Street Corp owned 2.35% of FibroGen worth $37,336,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its position in shares of FibroGen by 1,455.0% in the first quarter. Acadian Asset Management LLC now owns 148,490 shares of the biopharmaceutical company’s stock valued at $3,661,000 after buying an additional 138,941 shares in the last quarter. Sphera Funds Management LTD. boosted its position in shares of FibroGen by 6.4% in the first quarter. Sphera Funds Management LTD. now owns 165,700 shares of the biopharmaceutical company’s stock valued at $4,085,000 after buying an additional 10,000 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of FibroGen by 0.4% in the first quarter. Principal Financial Group Inc. now owns 136,045 shares of the biopharmaceutical company’s stock valued at $3,354,000 after buying an additional 504 shares in the last quarter. ClariVest Asset Management LLC bought a new position in shares of FibroGen during the first quarter valued at $2,065,000. Finally, American Century Companies Inc. boosted its position in shares of FibroGen by 35.0% in the first quarter. American Century Companies Inc. now owns 250,051 shares of the biopharmaceutical company’s stock valued at $6,164,000 after buying an additional 64,760 shares in the last quarter. Institutional investors own 44.06% of the company’s stock.
Shares of FibroGen, Inc (NASDAQ:FGEN) opened at 34.25 on Monday. FibroGen, Inc has a one year low of $15.60 and a one year high of $35.85. The firm has a 50-day moving average price of $32.53 and a 200 day moving average price of $27.33. The firm’s market capitalization is $2.40 billion.
FibroGen (NASDAQ:FGEN) last issued its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.11. The business had revenue of $26.89 million during the quarter, compared to the consensus estimate of $26.02 million. FibroGen had a negative return on equity of 36.41% and a negative net margin of 37.60%. Equities analysts forecast that FibroGen, Inc will post ($1.85) earnings per share for the current fiscal year.
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Several research analysts recently weighed in on FGEN shares. 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 report on Friday, July 21st. Zacks Investment Research cut FibroGen from a “hold” rating to a “sell” rating in a research report on Monday, May 8th. Citigroup Inc. reiterated a “buy” rating and set a $48.00 price target on shares of FibroGen in a research report on Monday, June 26th. William Blair reissued an “outperform” rating on shares of FibroGen in a report on Monday, June 26th. Finally, BidaskClub raised FibroGen from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $40.57.
In other news, CEO Thomas B. Neff sold 38,636 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $26.21, for a total transaction of $1,012,649.56. Following the completion of the transaction, the chief executive officer now directly owns 3,345,941 shares of the company’s stock, valued at approximately $87,697,113.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Toshinari Tamura sold 30,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $28.89, for a total value of $866,700.00. Following the transaction, the director now directly owns 60,000 shares of the company’s stock, valued at $1,733,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,628 shares of company stock valued at $11,349,624. Company insiders own 14.90% of the company’s stock.
About FibroGen
FibroGen, Inc is a science-based biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of therapeutics to treat serious unmet medical needs. Its lead product candidate is roxadustat (FG-4592). It is also engaged in developing products, such as FG-6874, FG-3019 and FG-5200.
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