FibroGen (FGEN) Stock Price Down 1.4% After Insider Selling

FibroGen Inc (NASDAQ:FGEN)’s share price traded down 1.4% during trading on Monday after an insider sold shares in the company. The stock traded as low as $33.51 and last traded at $35.88. 54,019 shares changed hands during trading, a decline of 91% from the average session volume of 624,578 shares. The stock had previously closed at $36.39.

Specifically, SVP Christine Chung sold 11,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $46.41, for a total value of $522,112.50. Following the sale, the senior vice president now owns 163,562 shares of the company’s stock, valued at $7,590,912.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas B. Neff sold 39,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $57.41, for a total transaction of $2,275,502.76. Following the completion of the sale, the chief executive officer now directly owns 2,658,056 shares in the company, valued at approximately $152,598,994.96. The disclosure for this sale can be found here. In the last three months, insiders sold 231,791 shares of company stock worth $12,644,356. Insiders own 8.96% of the company’s stock.

FGEN has been the subject of several recent analyst reports. BidaskClub cut shares of FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 22nd. ValuEngine cut shares of FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 14th. Stifel Nicolaus initiated coverage on shares of FibroGen in a research note on Monday, February 11th. They set a “buy” rating and a $71.00 price objective for the company. Zacks Investment Research raised shares of FibroGen from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Friday, March 8th. Finally, TheStreet raised shares of FibroGen from a “d+” rating to a “c-” rating in a research note on Friday, March 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. FibroGen currently has a consensus rating of “Buy” and an average price target of $68.50.

The company has a debt-to-equity ratio of 0.18, a quick ratio of 7.75 and a current ratio of 7.75. The company has a market capitalization of $3.03 billion, a P/E ratio of -34.12 and a beta of 1.60.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.15. FibroGen had a negative net margin of 44.14% and a negative return on equity of 17.69%. The business had revenue of $23.90 million during the quarter, compared to analysts’ expectations of $20.44 million. During the same quarter in the previous year, the company earned ($0.50) EPS. The business’s quarterly revenue was down 25.1% compared to the same quarter last year. Analysts anticipate that FibroGen Inc will post -0.97 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Trexquant Investment LP purchased a new position in FibroGen in the 1st quarter worth approximately $913,000. Northern Trust Corp grew its stake in FibroGen by 2.0% in the 1st quarter. Northern Trust Corp now owns 937,831 shares of the biopharmaceutical company’s stock worth $50,972,000 after buying an additional 18,745 shares in the last quarter. WCM Investment Management LLC purchased a new position in FibroGen in the 1st quarter worth approximately $497,000. Dynamic Technology Lab Private Ltd purchased a new position in FibroGen in the 1st quarter worth approximately $254,000. Finally, State of Wisconsin Investment Board grew its stake in FibroGen by 36.5% in the 1st quarter. State of Wisconsin Investment Board now owns 105,400 shares of the biopharmaceutical company’s stock worth $5,728,000 after buying an additional 28,200 shares in the last quarter. 66.67% of the stock is owned by institutional investors and hedge funds.

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FibroGen Company Profile (NASDAQ:FGEN)

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics 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 in the United States and Europe; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

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