Bank of America Corp DE increased its stake in shares of FibroGen, Inc (NASDAQ:FGEN) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 103,522 shares of the biopharmaceutical company’s stock after buying an additional 2,469 shares during the period. Bank of America Corp DE’s holdings in FibroGen were worth $2,552,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in FibroGen during the first quarter valued at $111,000. Airain ltd acquired a new position in FibroGen during the first quarter valued at $236,000. Parametric Portfolio Associates LLC acquired a new position in FibroGen during the first quarter valued at $249,000. UBS Asset Management Americas Inc. acquired a new position in FibroGen during the first quarter valued at $288,000. Finally, Clinton Group Inc. acquired a new position in FibroGen during the first quarter valued at $297,000. 43.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FibroGen, Inc (NASDAQ FGEN) traded down 3.89% on Thursday, hitting $41.95. 456,748 shares of the company’s stock traded hands. FibroGen, Inc has a 1-year low of $15.60 and a 1-year high of $51.70. The company’s market cap is $2.99 billion. The firm’s 50-day moving average price is $34.38 and its 200 day moving average price is $28.07.
FibroGen (NASDAQ:FGEN) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by $0.01. The company had revenue of $29 million for the quarter, compared to analyst estimates of $34.80 million. FibroGen had a negative return on equity of 64.42% and a negative net margin of 105.59%. On average, equities research analysts expect that FibroGen, Inc will post ($1.82) earnings per share for the current year.
Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of FibroGen from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Leerink Swann restated an “outperform” rating and set a $82.00 price objective (up previously from $52.00) on shares of FibroGen in a research report on Tuesday. William Blair restated an “outperform” rating on shares of FibroGen in a research report on Wednesday. Jefferies Group LLC restated a “buy” rating and set a $75.00 price objective on shares of FibroGen in a research report on Tuesday. Finally, Citigroup Inc. raised their price objective on shares of FibroGen from $48.00 to $65.00 and gave the company a “top pick” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $60.17.
In other news, insider K Peony Yu sold 3,721 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $28.95, for a total transaction of $107,722.95. Following the completion of the transaction, the insider now directly owns 221,507 shares in the company, valued at approximately $6,412,627.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas B. Neff sold 38,636 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $35.09, for a total value of $1,355,737.24. Following the transaction, the chief executive officer now owns 3,330,780 shares of the company’s stock, valued at $116,877,070.20. The disclosure for this sale can be found here. Insiders have sold a total of 404,974 shares of company stock valued at $12,515,438 over the last 90 days. Corporate insiders own 14.90% of the company’s stock.
FibroGen Company Profile
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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