Handelsbanken Fonder AB Buys 18,000 Shares of FibroGen Inc (FGEN)

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Handelsbanken Fonder AB increased its stake in shares of FibroGen Inc (NASDAQ:FGEN) by 10.5% in the third quarter, Holdings Channel reports. The institutional investor owned 190,000 shares of the biopharmaceutical company’s stock after acquiring an additional 18,000 shares during the period. Handelsbanken Fonder AB’s holdings in FibroGen were worth $11,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of FGEN. FMR LLC grew its stake in FibroGen by 23.8% during the 2nd quarter. FMR LLC now owns 8,463,528 shares of the biopharmaceutical company’s stock worth $529,817,000 after buying an additional 1,624,749 shares during the last quarter. PointState Capital LP grew its stake in FibroGen by 92.0% during the 2nd quarter. PointState Capital LP now owns 810,200 shares of the biopharmaceutical company’s stock worth $50,719,000 after buying an additional 388,300 shares during the last quarter. Emerald Advisers Inc. PA bought a new position in FibroGen during the 2nd quarter worth $22,954,000. Emerald Mutual Fund Advisers Trust bought a new position in FibroGen during the 2nd quarter worth $20,002,000. Finally, BlackRock Inc. grew its stake in FibroGen by 4.6% during the 2nd quarter. BlackRock Inc. now owns 6,182,657 shares of the biopharmaceutical company’s stock worth $387,037,000 after buying an additional 271,981 shares during the last quarter. Hedge funds and other institutional investors own 76.07% of the company’s stock.

In related news, CEO Thomas B. Neff sold 39,636 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $59.15, for a total transaction of $2,344,469.40. Following the completion of the transaction, the chief executive officer now owns 2,727,574 shares of the company’s stock, valued at $161,336,002.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jorma Routti sold 6,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $59.93, for a total value of $359,580.00. Following the transaction, the director now directly owns 137,540 shares of the company’s stock, valued at approximately $8,242,772.20. The disclosure for this sale can be found here. In the last three months, insiders sold 213,773 shares of company stock valued at $12,753,794. Company insiders own 8.96% of the company’s stock.

Several research firms have recently issued reports on FGEN. Leerink Swann set a $84.00 price target on FibroGen and gave the stock a “buy” rating in a research note on Monday. ValuEngine cut FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 17th. BidaskClub cut FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research raised FibroGen from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Wednesday. Finally, Mizuho reissued a “buy” rating and issued a $74.00 price target on shares of FibroGen in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. FibroGen presently has an average rating of “Buy” and a consensus target price of $72.25.

Shares of NASDAQ:FGEN traded up $0.29 on Friday, hitting $54.92. The company’s stock had a trading volume of 760 shares, compared to its average volume of 524,300. FibroGen Inc has a 12 month low of $40.74 and a 12 month high of $68.55. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of -31.75 and a beta of 1.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.95 and a current ratio of 7.95.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.31. FibroGen had a negative return on equity of 22.60% and a negative net margin of 85.59%. The company had revenue of $43.95 million during the quarter, compared to analysts’ expectations of $28.70 million. On average, equities research analysts predict that FibroGen Inc will post -1.05 EPS for the current year.

FibroGen Company Profile

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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Institutional Ownership by Quarter for FibroGen (NASDAQ:FGEN)

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