Prudential Financial Inc. Cuts Stake in FibroGen, Inc. (NASDAQ:FGEN)

Prudential Financial Inc. cut its holdings in shares of FibroGen, Inc. (NASDAQ:FGEN) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,735 shares of the biopharmaceutical company’s stock after selling 2,040 shares during the period. Prudential Financial Inc.’s holdings in FibroGen were worth $1,085,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Axiom Investment Management LLC bought a new position in FibroGen in the first quarter valued at about $35,000. Advisory Services Network LLC bought a new position in FibroGen in the second quarter valued at about $53,000. O Shaughnessy Asset Management LLC lifted its holdings in FibroGen by 66.8% in the second quarter. O Shaughnessy Asset Management LLC now owns 4,385 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 1,756 shares during the period. Amundi bought a new position in FibroGen in the second quarter valued at about $138,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of FibroGen by 297.4% in the second quarter. Nisa Investment Advisors LLC now owns 5,345 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 4,000 shares during the period. 68.71% of the stock is currently owned by institutional investors.

In related news, Director Thomas F. Kearns, Jr. sold 13,100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $11.58, for a total transaction of $151,698.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.02% of the stock is currently owned by company insiders.

Shares of FibroGen stock opened at $12.90 on Thursday. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -5.54 and a beta of 0.96. The stock has a 50 day moving average price of $11.32 and a 200-day moving average price of $16.06. FibroGen, Inc. has a one year low of $9.88 and a one year high of $57.21.

FibroGen (NASDAQ:FGEN) last announced its earnings results on Tuesday, November 9th. The biopharmaceutical company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.45. FibroGen had a negative return on equity of 58.92% and a negative net margin of 75.62%. During the same period in the previous year, the business posted $0.35 earnings per share. Equities analysts expect that FibroGen, Inc. will post -2.37 EPS for the current year.

Several research firms have recently commented on FGEN. Raymond James raised FibroGen from an “underperform” rating to a “market perform” rating in a research note on Friday, August 20th. Zacks Investment Research downgraded FibroGen from a “buy” rating to a “hold” rating in a research note on Monday, October 25th. The Goldman Sachs Group downgraded FibroGen from a “neutral” rating to a “sell” rating and decreased their target price for the company from $16.00 to $11.00 in a research note on Wednesday, September 22nd. Finally, SVB Leerink decreased their target price on FibroGen from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.56.

About FibroGen

FibroGen, Inc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel therapeutics. It focuses on the hypoxia-inducible factor and connective tissue growth factor biology to develop medicines for the treatment of anemia, fibrotic disease, and cancer.

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Institutional Ownership by Quarter for FibroGen (NASDAQ:FGEN)

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