FibroGen, Inc. (NASDAQ:FGEN) CEO Thane Wettig Purchases 145,000 Shares

FibroGen, Inc. (NASDAQ:FGEN) CEO Thane Wettig acquired 145,000 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $0.35 per share, with a total value of $50,750.00. Following the completion of the purchase, the chief executive officer now owns 543,329 shares of the company’s stock, valued at approximately $190,165.15. The trade was a 36.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

FibroGen Stock Down 7.2 %

FGEN stock opened at $0.34 on Wednesday. The firm has a market cap of $34.57 million, a PE ratio of -0.28 and a beta of 0.82. The business has a 50 day moving average of $0.48 and a 200-day moving average of $0.43. FibroGen, Inc. has a 12-month low of $0.18 and a 12-month high of $2.79.

FibroGen (NASDAQ:FGEN) last announced its earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $3.14 million for the quarter, compared to analysts’ expectations of $24.91 million. On average, research analysts expect that FibroGen, Inc. will post -0.8 earnings per share for the current year.

Institutional Trading of FibroGen

A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of FibroGen by 430.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock valued at $668,000 after acquiring an additional 1,358,194 shares during the period. Renaissance Technologies LLC lifted its stake in FibroGen by 80.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,358,712 shares of the biopharmaceutical company’s stock valued at $719,000 after purchasing an additional 605,572 shares during the last quarter. Geode Capital Management LLC grew its holdings in FibroGen by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock valued at $433,000 after purchasing an additional 32,884 shares during the period. Two Sigma Advisers LP increased its position in FibroGen by 18.3% in the fourth quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company’s stock worth $465,000 after buying an additional 135,600 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of FibroGen by 19.6% in the fourth quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company’s stock valued at $320,000 after buying an additional 98,888 shares during the period. Hedge funds and other institutional investors own 72.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of FibroGen in a research report on Tuesday, March 18th. StockNews.com started coverage on shares of FibroGen in a research report on Saturday. They set a “hold” rating on the stock.

FibroGen Company Profile

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. Its lead product candidates are Pamrevlumab, a human monoclonal antibody targeting connective tissue growth factor that is in Phase III clinical development for the treatment of locally advanced pancreatic cancer; and Roxadustat, an oral small molecule inhibitor of hypoxia-inducible factor prolyl hydroxylase activity, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in China, Europe, Japan, and other countries, as well as in Phase III clinical development for anemia related with myelodysplastic syndromes.