Thane Wettig Acquires 145,000 Shares of FibroGen, Inc. (NASDAQ:FGEN) 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 shares were bought at an average price of $0.35 per share, for a total transaction of $50,750.00. Following the completion of the purchase, the chief executive officer now owns 543,329 shares of the company’s stock, valued at approximately $190,165.15. This represents a 36.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

FibroGen Stock Performance

Shares of FibroGen stock traded up $0.01 during midday trading on Tuesday, reaching $0.38. 427,410 shares of the company’s stock traded hands, compared to its average volume of 3,716,748. FibroGen, Inc. has a 52 week low of $0.18 and a 52 week high of $2.79. The company’s 50 day simple moving average is $0.48 and its 200 day simple moving average is $0.43. The company has a market cap of $38.45 million, a price-to-earnings ratio of -0.31 and a beta of 0.82.

FibroGen (NASDAQ:FGEN) last posted its earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $3.14 million for the quarter, compared to the consensus estimate of $24.91 million. As a group, equities research analysts predict that FibroGen, Inc. will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On FibroGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FGEN. FMR LLC boosted its holdings in shares of FibroGen by 21.8% during the 3rd quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 68,569 shares during the period. Geode Capital Management LLC boosted its holdings in FibroGen by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock valued at $433,000 after acquiring an additional 32,884 shares during the period. JPMorgan Chase & Co. increased its position in FibroGen by 430.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock worth $668,000 after buying an additional 1,358,194 shares during the period. Franklin Street Advisors Inc. NC boosted its holdings in FibroGen by 100.0% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 100,000 shares during the period. Finally, Renaissance Technologies LLC grew its position 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 purchasing an additional 605,572 shares during the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FGEN has been the subject of several research reports. StockNews.com assumed coverage on FibroGen in a research note on Saturday. They set a “hold” rating for the company. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of FibroGen in a report 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.