FibroGen Inc. (FGEN) Shares Down 1.1%
FibroGen Inc. (NASDAQ:FGEN) traded down 1.1% during trading on Wednesday . The stock traded as low as $21.02 and last traded at $21.35, with a volume of 198,042 shares traded. The stock had previously closed at $21.59.
Separately, Credit Suisse Group AG reiterated a “buy” rating and issued a $37.00 price objective on shares of FibroGen in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $33.25.
The stock’s market cap is $1.37 billion. The stock’s 50-day moving average price is $18.97 and its 200-day moving average price is $18.45.
FibroGen (NASDAQ:FGEN) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.01. FibroGen had a negative return on equity of 48.66% and a negative net margin of 61.90%. Equities research analysts predict that FibroGen Inc. will post ($1.25) earnings per share for the current year.
In other FibroGen news, CEO Thomas B. Neff sold 37,798 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $17.80, for a total value of $672,804.40. Following the sale, the chief executive officer now directly owns 3,403,639 shares of the company’s stock, valued at $60,584,774.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas B. Neff sold 27,000 shares of the stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $16.02, for a total value of $432,540.00. Following the completion of the sale, the chief executive officer now directly owns 3,439,764 shares in the company, valued at $55,105,019.28. The disclosure for this sale can be found here. 14.90% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of FGEN. Sabby Management LLC bought a new stake in shares of FibroGen during the first quarter valued at $2,323,000. HBK Investments L P acquired a new position in shares of FibroGen during the first quarter worth approximately $528,000. State Street Corp raised its position in shares of FibroGen by 15.1% in the first quarter. State Street Corp now owns 1,330,809 shares of the biopharmaceutical company’s stock worth $28,335,000 after buying an additional 174,369 shares during the period. Landscape Capital Management L.L.C. raised its position in shares of FibroGen by 652.2% in the first quarter. Landscape Capital Management L.L.C. now owns 99,295 shares of the biopharmaceutical company’s stock worth $2,114,000 after buying an additional 86,095 shares during the period. Finally, Palisade Capital Management LLC NJ raised its position in shares of FibroGen by 6.3% in the first quarter. Palisade Capital Management LLC NJ now owns 55,350 shares of the biopharmaceutical company’s stock worth $1,178,000 after buying an additional 3,280 shares during the period. 49.82% of the stock is currently owned by hedge funds and other institutional investors.
FibroGen Company Profile
FibroGen, Inc is a research-based biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of novel 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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