Alps Advisors Inc. cut its position in FibroGen Inc (NASDAQ:FGEN) by 17.4% in the second quarter, HoldingsChannel reports. The firm owned 90,875 shares of the biopharmaceutical company’s stock after selling 19,118 shares during the period. Alps Advisors Inc.’s holdings in FibroGen were worth $4,307,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Wealth Alliance Advisory Group LLC bought a new position in FibroGen in the second quarter worth about $204,000. Aperio Group LLC bought a new position in FibroGen in the first quarter worth about $207,000. Fred Alger Management Inc. bought a new position in FibroGen in the second quarter worth about $313,000. Dynamic Technology Lab Private Ltd bought a new position in FibroGen in the first quarter worth about $258,000. Finally, Gideon Capital Advisors Inc. bought a new position in FibroGen in the first quarter worth about $332,000. Institutional investors and hedge funds own 64.48% of the company’s stock.
In other news, Director James A. Schoeneck sold 7,639 shares of the company’s stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $65.00, for a total transaction of $496,535.00. Following the transaction, the director now owns 11,339 shares in the company, valued at $737,035. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Pat Cotroneo sold 14,987 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $55.04, for a total transaction of $824,884.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 306,866 shares of company stock worth $18,431,894. Corporate insiders own 8.96% of the company’s stock.
FibroGen (NASDAQ:FGEN) last posted its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.31. FibroGen had a negative net margin of 85.59% and a negative return on equity of 22.60%. The firm had revenue of $43.95 million for the quarter, compared to the consensus estimate of $28.70 million. analysts anticipate that FibroGen Inc will post -1.32 earnings per share for the current fiscal year.
A number of brokerages have commented on FGEN. Zacks Investment Research upgraded shares of FibroGen from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. ValuEngine upgraded shares of FibroGen from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 21st. Mizuho reiterated a “buy” rating and issued a $74.00 target price on shares of FibroGen in a report on Wednesday, August 8th. Citigroup downgraded shares of FibroGen from a “buy” rating to a “hold” rating and set a $71.00 target price for the company. in a report on Wednesday, August 8th. Finally, BidaskClub upgraded shares of FibroGen from a “buy” rating to a “strong-buy” rating in a report on Friday, June 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $77.60.
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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