The Vanguard Group, Inc. recently announced the acquisition of new stake in FibroGen Inc. (NASDAQ:FGEN). The institutional investor has increased its shareholding in the Healthcare company by 11.51% to 9.58 million shares with purchase of 0.99 million shares. This fresh investment now brings its stake to 9.76% valued currently at $9.2 million. In addition, BlackRock Fund Advisors raised its holdings by 0.96 million to 7.08 million shares. And SSgA Funds Management, Inc. has lifted its position by 23.01% or 0.94 million shares – to 5.01 million shares.
With over 10.04 million FibroGen Inc. (FGEN) shares trading Monday and a closing price of $0.79 on the day, the dollar volume was approximately $7.93 million. The shares have shown a negative half year performance of -96.05% and its price on 09/18/23 lost nearly -8.47%. Currently, there are 97.73M common shares owned by the public and among those 92.02M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for FGEN have a consensus price objective of $2.25. The analysts have set the share’s price value over the next 12 months at a high of $2.50 and a low of $2.00. The average price target is 63.59% above its recent price level and an upside to the estimated low will see the stock gain 60.5% over that period. But an upside of 68.4% will see the stock hit the forecast high price target while median target price for the stock is $2.25.
Insiders at the company have transacted a total of 93 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 818,485 shares. Insider sales of the common stock occurred on 66 occasions, with total insider shares sold totaling 233,729 shares.
The top 3 mutual fund holders in FibroGen Inc. are Vanguard Capital Opportunity Fund, PRIMECAP Odyssey Aggressive Growt, and SPDR S&P Biotech ETF. Vanguard Capital Opportunity Fund owns 5.19 million shares of the company’s stock, all valued at over $4.98 million. The company bought an additional 25000.0 shares recently to bring their total holdings to about 5.28% of the shares outstanding. PRIMECAP Odyssey Aggressive Growt sold -0.54 million shares to see its total holdings shrink to 3.77 million shares valued at over $3.62 million and representing 3.84% of the shares outstanding. SPDR S&P Biotech ETF bought 44247.0 shares to bring its total holdings to over 3.13 million shares at a value of $3.01 million. SPDR S&P Biotech ETF now owns shares totaling to 3.19% of the shares outstanding.
Shares of FibroGen Inc. (NASDAQ: FGEN) opened at $0.89, up $0.03 from a prior closing price of $0.86. However, the script later moved the day high at 0.8900, down -8.47%. The company’s stock has a 5-day price change of -16.61% and -95.28% over the past three months. FGEN shares are trading -95.07% year to date (YTD), with the 12-month market performance down to -93.50% lower. It has a 12-month low price of $0.81 and touched a high of $25.69 over the same period. FGEN has an average intraday trading volume of 4.45 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -27.63%, -51.79%, and -94.31% respectively.
Institutional ownership of FibroGen Inc. (NASDAQ: FGEN) shares accounts for 78.70% of the company’s 97.73M shares outstanding. Mutual fund holders own 38.87%, while other institutional holders and individual stakeholders account for 39.96% and 15.35% respectively.
It has a market capitalization of $82.75M and a beta (3y monthly) value of 0.56. The earnings-per-share (ttm) stands at -$3.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.89% over the week and 9.85% over the month.
Analysts forecast that FibroGen Inc. (FGEN) will achieve an EPS of -$0.68 for the current quarter, -$0.37 for the next quarter and -$1.01 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.79 while analysts give the company a high EPS estimate of -$0.54. Comparatively, EPS for the current quarter was -$0.98 a year ago. Earnings per share for the fiscal year are expected to increase by 0.10%, and 63.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate FibroGen Inc. (FGEN) as a “Hold” at a consensus score of 3.40. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 3 of the 5 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the FGEN, a number of firms have released research notes about the stock. BofA Securities stated their Underperform rating for the stock in a research note on August 08, 2023, with the firm’s price target at $4-$2.
