PRIMECAP Management Co. recently announced the acquisition of new stake in FibroGen Inc (NASDAQ:FGEN). The institutional investor has increased its shareholding in the Healthcare company by 7.66% to 14.72 million shares with purchase of 1.05 million shares. This fresh investment now brings its stake to 14.97% valued currently at $13.05 million. In addition, Armistice Capital LLC raised its holdings by 3.54 million to 7.89 million shares. And BlackRock Fund Advisors has lifted its position by 4.33% or 0.31 million shares – to 7.39 million shares.
Currently, there are 94.17M common shares owned by the public and among those 91.63M shares have been available to trade.
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Insiders at the company have transacted a total of 88 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 758,136 shares. Insider sales of the common stock occurred on 63 occasions, with total insider shares sold totaling 249,513 shares.
The top 3 mutual fund holders in FibroGen Inc are Vanguard Capital Opportunity Fund, PRIMECAP Odyssey Aggressive Growt, and Vanguard Total Stock Market ETF. Vanguard Capital Opportunity Fund owns 5.42 million shares of the company’s stock, all valued at over $4.8 million. The company bought an additional 0.23 million shares recently to bring their total holdings to about 5.51% of the shares outstanding. PRIMECAP Odyssey Aggressive Growt bought 0.47 million shares to see its total holdings expand to 4.24 million shares valued at over $3.76 million and representing 4.31% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 2.96% of the shares outstanding.
However, the script later moved the day high at 1.8200, up 82.71%. The company’s stock has a 5-day price change of 94.65% and 219.63% over the past three months. FGEN shares are trading 92.94% year to date (YTD), with the 12-month market performance down to -92.27% lower. It has a 12-month low price of $0.33 and touched a high of $25.69 over the same period. FGEN has an average intraday trading volume of 1.78 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 102.99%, 146.26%, and -67.85% respectively.
Institutional ownership of FibroGen Inc (NASDAQ: FGEN) shares accounts for 70.27% of the company’s 94.17M shares outstanding. Mutual fund holders own 30.39%, while other institutional holders and individual stakeholders account for 39.95% and 15.27% respectively.
It has a market capitalization of $168.16M and a beta (3y monthly) value of 0.67. The earnings-per-share (ttm) stands at -$3.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 34.95% over the week and 17.27% over the month.
Analysts forecast that FibroGen Inc (FGEN) will achieve an EPS of -$0.44 for the current quarter, -$0.43 for the next quarter and -$1.36 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.46 while analysts give the company a high EPS estimate of -$0.42. Comparatively, EPS for the current quarter was -$0.7 a year ago. Earnings per share for the fiscal year are expected to increase by 14.81%, and 49.25% over the next financial year.
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.
