American International Group Inc. trimmed its position in shares of FibroGen Inc (NASDAQ:FGEN) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,553 shares of the biopharmaceutical company’s stock after selling 2,396 shares during the period. American International Group Inc. owned 0.05% of FibroGen worth $2,058,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in FGEN. Dimensional Fund Advisors LP bought a new stake in shares of FibroGen during the 3rd quarter valued at $4,851,000. Bank of Montreal Can raised its position in shares of FibroGen by 2,097.2% during the 4th quarter. Bank of Montreal Can now owns 3,186 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 3,041 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in FibroGen by 8.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 361,564 shares of the biopharmaceutical company’s stock valued at $17,139,000 after acquiring an additional 27,904 shares during the last quarter. SG Americas Securities LLC increased its holdings in FibroGen by 82.3% in the 4th quarter. SG Americas Securities LLC now owns 25,537 shares of the biopharmaceutical company’s stock valued at $1,210,000 after acquiring an additional 11,531 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in FibroGen by 23.1% in the 4th quarter. Jennison Associates LLC now owns 276,914 shares of the biopharmaceutical company’s stock valued at $13,126,000 after acquiring an additional 51,914 shares during the last quarter. Hedge funds and other institutional investors own 63.13% of the company’s stock.
In related news, Director Jorma Routti sold 6,000 shares of FibroGen stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $57.48, for a total transaction of $344,880.00. Following the completion of the transaction, the director now directly owns 137,540 shares of the company’s stock, valued at approximately $7,905,799.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas B. Neff sold 39,636 shares of FibroGen stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $45.59, for a total transaction of $1,807,005.24. Following the transaction, the chief executive officer now directly owns 2,950,813 shares of the company’s stock, valued at $134,527,564.67. The disclosure for this sale can be found here. Insiders sold a total of 293,327 shares of company stock valued at $14,720,427 over the last three months. Corporate insiders own 8.96% of the company’s stock.
FibroGen (NASDAQ:FGEN) last issued its quarterly earnings data on Wednesday, May 9th. The biopharmaceutical company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01. FibroGen had a negative net margin of 102.86% and a negative return on equity of 27.70%. The business had revenue of $31.90 million during the quarter, compared to analysts’ expectations of $29.07 million. During the same period last year, the company posted ($0.48) EPS. The business’s revenue was up 8.5% on a year-over-year basis. analysts expect that FibroGen Inc will post -1.58 earnings per share for the current year.
FGEN has been the topic of a number of research reports. ValuEngine upgraded shares of FibroGen from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. TheStreet upgraded shares of FibroGen from a “d” rating to a “c-” rating in a report on Tuesday, February 27th. Leerink Swann reiterated an “outperform” rating and issued a $88.00 price target (up from $80.00) on shares of FibroGen in a report on Wednesday, February 28th. Zacks Investment Research downgraded shares of FibroGen from a “hold” rating to a “sell” rating in a report on Monday, May 14th. Finally, BidaskClub upgraded shares of FibroGen from a “hold” rating to a “buy” rating in a report on Thursday, May 24th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $66.67.
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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