BlackRock Inc. Sells 271,545 Shares of FibroGen, Inc. (NASDAQ:FGEN)

BlackRock Inc. trimmed its holdings in FibroGen, Inc. (NASDAQ:FGEN) by 3.4% in the first quarter, Holdings Channel reports. The fund owned 7,626,057 shares of the biopharmaceutical company’s stock after selling 271,545 shares during the period. BlackRock Inc. owned 0.08% of FibroGen worth $264,700,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Penserra Capital Management LLC raised its position in FibroGen by 170.1% during the 4th quarter. Penserra Capital Management LLC now owns 2,085 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,313 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in FibroGen by 24.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,545 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 700 shares during the last quarter. Neo Ivy Capital Management boosted its stake in FibroGen by 53.1% during the 4th quarter. Neo Ivy Capital Management now owns 6,227 shares of the biopharmaceutical company’s stock valued at $231,000 after purchasing an additional 2,159 shares during the last quarter. Donoghue Forlines LLC purchased a new position in shares of FibroGen in the 4th quarter worth approximately $244,000. Finally, EFG Asset Management Americas Corp. boosted its stake in shares of FibroGen by 31.6% in the 1st quarter. EFG Asset Management Americas Corp. now owns 7,143 shares of the biopharmaceutical company’s stock worth $248,000 after buying an additional 1,714 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:FGEN opened at $25.15 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.72 and a quick ratio of 3.60. The company has a market cap of $2.32 billion, a PE ratio of -12.45 and a beta of 1.03. The business has a 50 day moving average of $21.88. FibroGen, Inc. has a 12 month low of $18.12 and a 12 month high of $57.21.

FibroGen (NASDAQ:FGEN) last issued its earnings results on Monday, May 10th. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.12. FibroGen had a negative net margin of 95.98% and a negative return on equity of 42.54%. The business had revenue of $38.40 million for the quarter, compared to analysts’ expectations of $59.48 million. During the same quarter in the previous year, the firm posted ($0.89) EPS. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that FibroGen, Inc. will post -1.01 EPS for the current year.

FGEN has been the topic of a number of research analyst reports. Raymond James restated a “sell” rating on shares of FibroGen in a research note on Wednesday, April 7th. JPMorgan Chase & Co. upgraded FibroGen to a “neutral” rating in a research note on Wednesday, April 7th. Bank of America upgraded FibroGen from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Wednesday, March 31st. Zacks Investment Research upgraded FibroGen from a “sell” rating to a “hold” rating in a research note on Monday, May 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $45.00 price target (down previously from $75.00) on shares of FibroGen in a report on Monday, March 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $47.17.

FibroGen Profile

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases that is in Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States and Europe; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

Read More: What is a short straddle?

Want to see what other hedge funds are holding FGEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FibroGen, Inc. (NASDAQ:FGEN).

Institutional Ownership by Quarter for FibroGen (NASDAQ:FGEN)

Receive News & Ratings for FibroGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FibroGen and related companies with MarketBeat.com's FREE daily email newsletter.