BlackRock Investment Management LLC Raises Position in FibroGen, Inc (FGEN)

BlackRock Investment Management LLC Raises Position in FibroGen, Inc (FGEN)

BlackRock Investment Management LLC boosted its position in FibroGen, Inc (NASDAQ:FGEN) by 0.1% during the third quarter, Holdings Channel reports. The fund owned 195,199 shares of the biopharmaceutical company’s stock after buying an additional 279 shares during the period. BlackRock Investment Management LLC owned 0.31% of FibroGen worth $4,041,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Rothschild Asset Management Inc. boosted its position in shares of FibroGen by 4.5% in the third quarter. Rothschild Asset Management Inc. now owns 131,848 shares of the biopharmaceutical company’s stock worth $2,729,000 after buying an additional 5,674 shares during the last quarter. Capital Fund Management S.A. purchased a new position in shares of FibroGen during the second quarter worth about $550,000. Nationwide Fund Advisors boosted its position in shares of FibroGen by 4.3% in the second quarter. Nationwide Fund Advisors now owns 70,039 shares of the biopharmaceutical company’s stock worth $1,149,000 after buying an additional 2,899 shares during the last quarter. American Century Companies Inc. boosted its position in shares of FibroGen by 371.5% in the second quarter. American Century Companies Inc. now owns 230,019 shares of the biopharmaceutical company’s stock worth $3,775,000 after buying an additional 181,235 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of FibroGen by 152.4% in the third quarter. Prudential Financial Inc. now owns 125,780 shares of the biopharmaceutical company’s stock worth $2,604,000 after buying an additional 75,940 shares during the last quarter. Institutional investors own 48.24% of the company’s stock.

Shares of FibroGen, Inc (NASDAQ:FGEN) traded down 1.08% during trading on Friday, reaching $22.95. The company’s stock had a trading volume of 192,485 shares. FibroGen, Inc has a 12-month low of $14.38 and a 12-month high of $25.70. The firm’s 50-day moving average is $22.38 and its 200-day moving average is $20.02. The stock’s market capitalization is $1.45 billion.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.21. The firm had revenue of $30.10 million for the quarter, compared to analyst estimates of $24.30 million. FibroGen had a negative return on equity of 40.38% and a negative net margin of 45.93%. Equities analysts expect that FibroGen, Inc will post ($1.00) earnings per share for the current year.

FGEN has been the topic of a number of analyst reports. RBC Capital Markets reiterated a “buy” rating on shares of FibroGen in a research note on Wednesday, January 18th. Zacks Investment Research upgraded shares of FibroGen from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, November 11th. Stifel Nicolaus reiterated a “positive” rating and issued a $33.00 price target on shares of FibroGen in a research note on Wednesday, January 18th. Finally, Leerink Swann reiterated a “buy” rating and issued a $52.00 price target on shares of FibroGen in a research note on Wednesday, November 9th. Five analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $36.20.

In other news, CEO Thomas B. Neff sold 37,798 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $16.76, for a total transaction of $633,494.48. Following the transaction, the chief executive officer now owns 3,350,871 shares in the company, valued at $56,160,597.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas F. Kearns, Jr. sold 18,000 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $22.40, for a total value of $403,200.00. Following the transaction, the director now owns 165,564 shares in the company, valued at approximately $3,708,633.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,430 shares of company stock worth $6,857,648. Insiders own 14.90% of the company’s stock.

About FibroGen

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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