Insider Buying: FibroGen, Inc. (NASDAQ:FGEN) CEO Purchases 145,000 Shares of Stock

FibroGen, Inc. (NASDAQ:FGEN) CEO Thane Wettig acquired 145,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average cost of $0.35 per share, with a total value of $50,750.00. Following the completion of the acquisition, the chief executive officer now owns 543,329 shares in the company, valued at $190,165.15. This trade represents a 36.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

FibroGen Price Performance

Shares of NASDAQ:FGEN opened at $0.34 on Wednesday. The firm has a fifty day moving average price of $0.48 and a two-hundred day moving average price of $0.43. The company has a market cap of $34.57 million, a price-to-earnings ratio of -0.28 and a beta of 0.82. FibroGen, Inc. has a one year low of $0.18 and a one year high of $2.79.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings data 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 the consensus estimate of $24.91 million. Equities research analysts expect that FibroGen, Inc. will post -0.8 EPS for the current fiscal year.

Institutional Trading of FibroGen

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of FibroGen by 430.7% in the third quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock worth $668,000 after purchasing an additional 1,358,194 shares during the last quarter. Renaissance Technologies LLC grew its stake in FibroGen by 80.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,358,712 shares of the biopharmaceutical company’s stock worth $719,000 after buying an additional 605,572 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of FibroGen by 416.6% in the 4th quarter. Mackenzie Financial Corp now owns 546,959 shares of the biopharmaceutical company’s stock worth $290,000 after buying an additional 441,083 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of FibroGen in the 4th quarter worth $205,000. Finally, Two Sigma Advisers LP raised its position in shares of FibroGen by 18.3% during the 4th quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company’s stock valued at $465,000 after buying an additional 135,600 shares in the last quarter. Institutional investors own 72.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FGEN. StockNews.com initiated coverage on FibroGen in a report on Saturday. They issued a “hold” rating for the company. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of FibroGen in a research note on Tuesday, March 18th.

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.