FibroGen Sees Unusually Large Options Volume (NASDAQ:FGEN)

Posted by Defense World Staff on Jun 6th, 2023

FibroGen, Inc. (NASDAQ:FGEN – Get Rating) saw some unusual options trading on Monday. Stock investors acquired 3,074 call options on the company. This represents an increase of approximately 51% compared to the typical volume of 2,035 call options.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FGEN shares. Cowen upped their price objective on FibroGen from $15.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, February 28th. The Goldman Sachs Group raised their price objective on FibroGen from $9.00 to $16.00 and gave the company a “sell” rating in a research note on Tuesday, February 21st. StockNews.com began coverage on FibroGen in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Stifel Nicolaus raised shares of FibroGen from a “hold” rating to a “buy” rating and increased their price objective for the company from $23.00 to $32.00 in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.83.

FibroGen Trading Up 7.3 %

NASDAQ:FGEN opened at $19.19 on Tuesday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -5.87 and a beta of 0.78. FibroGen has a 12-month low of $8.67 and a 12-month high of $25.69. The company’s 50-day moving average is $18.05 and its two-hundred day moving average is $18.75.

FibroGen (NASDAQ:FGEN – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.05). The business had revenue of $36.16 million during the quarter, compared to analyst estimates of $31.52 million. FibroGen had a negative net margin of 264.63% and a negative return on equity of 879.75%. The company’s revenue was down 40.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.68) earnings per share. On average, equities research analysts forecast that FibroGen will post -2.83 earnings per share for the current fiscal year.

Insider Buying and Selling at FibroGen

In related news, CEO Enrique A. Conterno sold 1,869 shares of the company’s stock in a transaction on Monday, April 10th. The shares were sold at an average price of $19.52, for a total value of $36,482.88. Following the completion of the sale, the chief executive officer now owns 382,999 shares in the company, valued at approximately $7,476,140.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other FibroGen news, CEO Enrique A. Conterno sold 1,869 shares of FibroGen stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $19.52, for a total value of $36,482.88. Following the transaction, the chief executive officer now directly owns 382,999 shares in the company, valued at approximately $7,476,140.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christine Chung sold 7,606 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $20.20, for a total value of $153,641.20. Following the completion of the transaction, the senior vice president now directly owns 259,050 shares in the company, valued at approximately $5,232,810. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,021 shares of company stock worth $2,378,728. 2.82% of the stock is owned by insiders.

Institutional Trading of FibroGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new stake in FibroGen during the fourth quarter worth approximately $28,000. Royal Bank of Canada raised its holdings in FibroGen by 45.3% in the third quarter. Royal Bank of Canada now owns 2,314 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 721 shares in the last quarter. Dark Forest Capital Management LP bought a new position in FibroGen during the 1st quarter valued at $47,000. Tower Research Capital LLC TRC increased its holdings in FibroGen by 231.2% in the first quarter. Tower Research Capital LLC TRC now owns 3,385 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 2,363 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in shares of FibroGen in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 76.89% of the company’s stock.

FibroGen Company Profile

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FibroGen, Inc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel therapeutics. It focuses on the hypoxia-inducible factor and connective tissue growth factor biology to develop medicines for the treatment of anemia, fibrotic disease, and cancer.

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