FibroGen, Inc (FGEN) Stake Boosted by State Street Corp

State Street Corp lifted its holdings in FibroGen, Inc (NASDAQ:FGEN) by 16.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,763,387 shares of the biopharmaceutical company’s stock after acquiring an additional 248,922 shares during the period. State Street Corp owned 2.48% of FibroGen worth $56,962,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of FibroGen in the second quarter worth about $128,000. SG Americas Securities LLC boosted its stake in shares of FibroGen by 6.5% in the second quarter. SG Americas Securities LLC now owns 6,747 shares of the biopharmaceutical company’s stock worth $218,000 after acquiring an additional 412 shares during the period. Amalgamated Bank bought a new position in shares of FibroGen in the second quarter worth about $237,000. BNP Paribas Arbitrage SA boosted its stake in shares of FibroGen by 589.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,401 shares of the biopharmaceutical company’s stock worth $239,000 after acquiring an additional 6,327 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of FibroGen by 107.0% in the second quarter. Great West Life Assurance Co. Can now owns 8,694 shares of the biopharmaceutical company’s stock worth $280,000 after acquiring an additional 4,494 shares during the period. 47.49% of the stock is owned by hedge funds and other institutional investors.

In related news, insider K Peony Yu sold 37,500 shares of FibroGen stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $50.58, for a total value of $1,896,750.00. Following the sale, the insider now directly owns 236,507 shares in the company, valued at approximately $11,962,524.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Pat Cotroneo sold 95,000 shares of FibroGen stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $50.61, for a total value of $4,807,950.00. Following the completion of the sale, the vice president now owns 173,366 shares in the company, valued at $8,774,053.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 553,118 shares of company stock worth $28,645,321. 14.90% of the stock is currently owned by insiders.

A number of research firms recently commented on FGEN. Mizuho began coverage on FibroGen in a research report on Wednesday, October 4th. They issued a “neutral” rating and a $61.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 target price on shares of FibroGen in a research report on Thursday, September 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 target price on shares of FibroGen in a research report on Tuesday, September 12th. William Blair reiterated an “outperform” rating on shares of FibroGen in a research report on Wednesday, August 9th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $82.00 target price (up from $52.00) on shares of FibroGen in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. FibroGen presently has a consensus rating of “Buy” and a consensus target price of $65.67.

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FibroGen (NASDAQ:FGEN) last posted its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.01). FibroGen had a negative return on equity of 64.42% and a negative net margin of 105.59%. The firm had revenue of $29.00 million during the quarter, compared to analyst estimates of $34.80 million.

FibroGen Profile

FibroGen, Inc is a science-based biopharmaceutical company discovering and developing a pipeline of first- in-class therapeutics. The Company is focused on fibrosis and hypoxia-inducible factor (HIF) biology and clinical development to advance innovative medicines for the treatment of anemia, fibrotic disease, and cancer.

Institutional Ownership by Quarter for FibroGen (NASDAQ:FGEN)

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