Rhumbline Advisers Sells 98,099 Shares of FibroGen, Inc. (NASDAQ:FGEN)

Rhumbline Advisers trimmed its stake in FibroGen, Inc. (NASDAQ:FGEN) by 62.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,141 shares of the biopharmaceutical company’s stock after selling 98,099 shares during the quarter. Rhumbline Advisers owned 0.06% of FibroGen worth $53,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Armistice Capital LLC boosted its stake in FibroGen by 23.7% in the 4th quarter. Armistice Capital LLC now owns 9,764,000 shares of the biopharmaceutical company’s stock worth $8,654,000 after purchasing an additional 1,872,000 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of FibroGen in the fourth quarter worth approximately $136,000. Pennant Investors LP purchased a new stake in shares of FibroGen during the fourth quarter valued at approximately $681,000. Accel Wealth Management bought a new stake in shares of FibroGen during the first quarter valued at approximately $103,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in FibroGen in the 1st quarter worth approximately $131,000. 72.71% of the stock is owned by hedge funds and other institutional investors.

FibroGen Stock Down 1.7 %

Shares of FGEN stock opened at $0.40 on Tuesday. The company has a 50 day moving average price of $0.51 and a 200-day moving average price of $1.04. FibroGen, Inc. has a 52 week low of $0.33 and a 52 week high of $2.93. The firm has a market capitalization of $39.73 million, a PE ratio of -0.16 and a beta of 0.69.

FibroGen (NASDAQ:FGEN) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.09. The company had revenue of $50.64 million during the quarter, compared to the consensus estimate of $33.00 million. During the same period last year, the firm posted ($0.65) EPS. Analysts anticipate that FibroGen, Inc. will post -0.91 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on FGEN. William Blair reiterated a “market perform” rating on shares of FibroGen in a research note on Monday, June 3rd. StockNews.com began coverage on FibroGen in a research report on Friday. They set a “hold” rating on the stock.

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.