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 5.43% to 13.9 million shares with purchase of 0.72 million shares. This fresh investment now brings its stake to 14.75% valued currently at $237.88 million. In addition, BlackRock Fund Advisors raised its holdings by 89685.0 to 6.12 million shares. And Point72 Asset Management LP has lifted its position by 0.08% or 3945.0 shares – to 4.78 million shares.
With over 1.39 million FibroGen Inc. (FGEN) shares trading Monday and a closing price of $17.25 on the day, the dollar volume was approximately $23.94 million. The shares have shown a positive half year performance of 15.15% and its price on 05/22/23 lost nearly -1.82%. Currently, there are 94.69M common shares owned by the public and among those 86.50M 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: 7 analysts who have offered their price forecasts for FGEN have a consensus price objective of $26.46. The analysts have set the share’s price value over the next 12 months at a high of $37.20 and a low of $16.00. The average price target is 30.08% above its recent price level and a downside to the estimated low will see the stock lose -7.81% over that period. But an upside of 53.63% will see the stock hit the forecast high price target while median target price for the stock is $25.00.
Insiders at the company have transacted a total of 77 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 438,389 shares. Insider sales of the common stock occurred on 53 occasions, with total insider shares sold totaling 201,779 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 5.06 million shares of the company’s stock, all valued at over $86.6 million. The company bought an additional 0.6 million shares recently to bring their total holdings to about 5.37% of the shares outstanding. PRIMECAP Odyssey Aggressive Growt bought 88800.0 shares to see its total holdings expand to 4.31 million shares valued at over $73.8 million and representing 4.58% of the shares outstanding. Vanguard Total Stock Market ETF bought 33329.0 shares to bring its total holdings to over 2.62 million shares at a value of $44.81 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.78% of the shares outstanding.
Shares of FibroGen Inc. (NASDAQ: FGEN) opened at $17.48, down -$0.09 from a prior closing price of $17.57. However, the script later moved the day high at 18.08, down -1.82%. The company’s stock has a 5-day price change of -2.32% and -23.67% over the past three months. FGEN shares are trading 7.68% year to date (YTD), with the 12-month market performance up to 101.28% higher. It has a 12-month low price of $8.15 and touched a high of $25.69 over the same period. FGEN has an average intraday trading volume of 904.64K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.58%, -6.90%, and 0.42% respectively.
Institutional ownership of FibroGen Inc. (NASDAQ: FGEN) shares accounts for 78.70% of the company’s 94.69M shares outstanding. Mutual fund holders own 41.01%, while other institutional holders and individual stakeholders account for 42.90% and 15.57% respectively.
It has a market capitalization of $1.69B and a beta (3y monthly) value of 0.78. The earnings-per-share (ttm) stands at -$3.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.19% over the week and 5.88% over the month.
Analysts forecast that FibroGen Inc. (FGEN) will achieve an EPS of -$0.71 for the current quarter, -$0.68 for the next quarter and -$2.32 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.79 while analysts give the company a high EPS estimate of -$0.62. Comparatively, EPS for the current quarter was -$0.78 a year ago. Earnings per share for the fiscal year are expected to increase by 0.10%, and 7.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate FibroGen Inc. (FGEN) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 3 of the 7 advise that investors “hold,” and 1 rated it as a “Sell.”
