Primecap Management Co. CA Trims Stake in FibroGen, Inc. (NASDAQ:FGEN)

Primecap Management Co. CA lessened its position in FibroGen, Inc. (NASDAQ:FGEN) by 53.4% in the fourth quarter, HoldingsChannel reports. The firm owned 4,616,130 shares of the biopharmaceutical company’s stock after selling 5,295,101 shares during the quarter. Primecap Management Co. CA’s holdings in FibroGen were worth $2,444,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FGEN. Franklin Street Advisors Inc. NC raised its holdings in FibroGen by 100.0% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 100,000 shares in the last quarter. FMR LLC grew its position in shares of FibroGen by 21.8% in 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 increased its stake in shares of FibroGen by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock worth $433,000 after acquiring an additional 32,884 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in FibroGen by 430.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock valued at $668,000 after acquiring an additional 1,358,194 shares during the period. 72.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on FGEN. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of FibroGen in a report on Tuesday. StockNews.com began coverage on FibroGen in a research note on Friday, March 14th. They issued a “hold” rating on the stock.

FibroGen Stock Performance

Shares of NASDAQ FGEN opened at $0.36 on Thursday. The firm’s 50 day moving average price is $0.50 and its 200-day moving average price is $0.43. FibroGen, Inc. has a 52-week low of $0.18 and a 52-week high of $2.80. The company has a market cap of $36.05 million, a PE ratio of -0.29 and a beta of 0.82.

FibroGen (NASDAQ:FGEN) last released 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 during the quarter, compared to the consensus estimate of $24.91 million. On average, analysts forecast that FibroGen, Inc. will post -0.8 earnings per share for the current fiscal year.

FibroGen 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.