FibroGen (FGEN) Shares Down 5.9% Following Insider Selling

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FibroGen Inc (NASDAQ:FGEN) dropped 5.9% during trading on Monday after an insider sold shares in the company. The stock traded as low as $41.80 and last traded at $42.18. Approximately 969,698 shares were traded during mid-day trading, an increase of 83% from the average daily volume of 530,720 shares. The stock had previously closed at $44.83.

Specifically, Director Jorma Routti sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $59.93, for a total value of $359,580.00. Following the completion of the sale, the director now directly owns 137,540 shares in the company, valued at $8,242,772.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kalevi Kurkijarvi sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $60.28, for a total value of $241,120.00. Following the completion of the sale, the director now owns 27,700 shares of the company’s stock, valued at $1,669,756. The disclosure for this sale can be found here. Over the last quarter, insiders sold 236,673 shares of company stock valued at $13,265,502. 8.96% of the stock is currently owned by corporate insiders.

FGEN has been the subject of several recent research reports. Zacks Investment Research upgraded FibroGen from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. ValuEngine cut FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 2nd. Mizuho reiterated a “buy” rating and issued a $74.00 price target on shares of FibroGen in a research note on Wednesday, August 8th. Citigroup cut FibroGen from a “buy” rating to a “hold” rating and set a $71.00 price target for the company. in a research note on Wednesday, August 8th. Finally, Leerink Swann set a $82.00 price target on FibroGen and gave the company a “buy” rating in a research note on Tuesday, September 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $72.25.

The company has a market cap of $3.78 billion, a PE ratio of -24.38 and a beta of 2.15. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.19.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.28) EPS for the quarter, beating the 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 business had revenue of $43.95 million during the quarter, compared to the consensus estimate of $28.70 million. Equities analysts expect that FibroGen Inc will post -1.05 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in FGEN. Wealth Alliance Advisory Group LLC acquired a new position in FibroGen during the second quarter valued at approximately $204,000. Oppenheimer Asset Management Inc. acquired a new position in FibroGen during the second quarter valued at approximately $236,000. Dynamic Technology Lab Private Ltd acquired a new position in FibroGen during the first quarter valued at approximately $258,000. Fred Alger Management Inc. acquired a new position in FibroGen during the second quarter valued at approximately $313,000. Finally, Nisa Investment Advisors LLC raised its position in FibroGen by 1,829.4% during the third quarter. Nisa Investment Advisors LLC now owns 6,174 shares of the biopharmaceutical company’s stock valued at $375,000 after purchasing an additional 5,854 shares in the last quarter. Institutional investors and hedge funds own 76.69% of the company’s stock.

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About FibroGen (NASDAQ:FGEN)

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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