Jennison Associates LLC Purchases 51,914 Shares of FibroGen Inc (FGEN)
Jennison Associates LLC grew its position in shares of FibroGen Inc (NASDAQ:FGEN) by 23.1% in the fourth quarter, Holdings Channel reports. The fund owned 276,914 shares of the biopharmaceutical company’s stock after acquiring an additional 51,914 shares during the period. Jennison Associates LLC’s holdings in FibroGen were worth $13,126,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in FGEN. Quantbot Technologies LP acquired a new position in FibroGen during the 2nd quarter worth approximately $128,000. Bank of Montreal Can boosted its position in FibroGen by 2,097.2% during the 4th quarter. Bank of Montreal Can now owns 3,186 shares of the biopharmaceutical company’s stock worth $151,000 after acquiring an additional 3,041 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of FibroGen by 15.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,218 shares of the biopharmaceutical company’s stock valued at $169,000 after buying an additional 696 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of FibroGen in the 2nd quarter valued at approximately $237,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of FibroGen by 112.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,410 shares of the biopharmaceutical company’s stock valued at $237,000 after buying an additional 2,336 shares during the last quarter. 57.27% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Thomas B. Neff sold 38,636 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $44.66, for a total value of $1,725,483.76. Following the sale, the chief executive officer now owns 3,022,934 shares in the company, valued at approximately $135,004,232.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider K Peony Yu sold 7,500 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $55.37, for a total value of $415,275.00. Following the completion of the sale, the insider now owns 170,104 shares in the company, valued at approximately $9,418,658.48. The disclosure for this sale can be found here. In the last three months, insiders sold 336,417 shares of company stock valued at $16,557,926. 13.60% of the stock is currently owned by insiders.
FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.13). FibroGen had a negative net margin of 120.00% and a negative return on equity of 47.36%. analysts forecast that FibroGen Inc will post -1.75 earnings per share for the current year.
FGEN has been the subject of several recent analyst reports. Mizuho reissued a “hold” rating and issued a $61.00 price objective on shares of FibroGen in a report on Thursday, November 9th. ValuEngine raised FibroGen from a “sell” rating to a “hold” rating in a report on Friday. Finally, BidaskClub raised FibroGen from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. FibroGen currently has an average rating of “Buy” and an average price target of $65.67.
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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.
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