Tocqueville Asset Management L.P. Sells 25,000 Shares of FibroGen, Inc (FGEN)

Tocqueville Asset Management L.P. lowered its stake in shares of FibroGen, Inc (NASDAQ:FGEN) by 33.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,000 shares of the biopharmaceutical company’s stock after selling 25,000 shares during the period. Tocqueville Asset Management L.P. owned about 0.07% of FibroGen worth $2,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new stake in FibroGen during the third quarter worth about $606,000. First Trust Advisors LP lifted its holdings in shares of FibroGen by 261.5% in the third quarter. First Trust Advisors LP now owns 67,042 shares of the biopharmaceutical company’s stock valued at $3,607,000 after purchasing an additional 48,494 shares in the last quarter. Boston Advisors LLC lifted its holdings in shares of FibroGen by 14.9% in the third quarter. Boston Advisors LLC now owns 201,125 shares of the biopharmaceutical company’s stock valued at $10,821,000 after purchasing an additional 26,120 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in shares of FibroGen by 9.3% in the third quarter. Nationwide Fund Advisors now owns 234,753 shares of the biopharmaceutical company’s stock valued at $12,630,000 after purchasing an additional 19,954 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of FibroGen in the third quarter valued at about $942,000. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have issued reports on FGEN. Leerink Swann reaffirmed an “outperform” rating and issued a $82.00 price target (up previously from $52.00) on shares of FibroGen in a report on Tuesday, August 8th. William Blair reissued an “outperform” rating on shares of FibroGen in a research note on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and set a $75.00 price objective on shares of FibroGen in a research note on Tuesday, August 8th. Citigroup Inc. upped their price objective on shares of FibroGen from $48.00 to $65.00 and gave the company a “top pick” rating in a research note on Tuesday, August 8th. Finally, BidaskClub downgraded shares of FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. FibroGen currently has an average rating of “Buy” and a consensus target price of $65.67.

In related news, insider K Peony Yu sold 40,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $54.63, for a total transaction of $2,185,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jorma Routti sold 12,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $47.36, for a total transaction of $568,320.00. Following the sale, the director now directly owns 133,840 shares of the company’s stock, valued at $6,338,662.40. The disclosure for this sale can be found here. Insiders sold 457,518 shares of company stock valued at $23,754,691 in the last three months. Company insiders own 14.90% of the company’s stock.

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FibroGen, Inc (FGEN) traded down $0.45 during trading on Wednesday, hitting $47.35. 275,599 shares of the stock traded hands, compared to its average volume of 625,318. FibroGen, Inc has a 52 week low of $19.25 and a 52 week high of $60.15. The company has a quick ratio of 10.83, a current ratio of 10.83 and a debt-to-equity ratio of 0.16.

About FibroGen

FibroGen, Inc is a science-based biopharmaceutical company discovering and developing a pipeline of first- in-class therapeutics. The Company is focused on fibrosis and hypoxia-inducible factor (HIF) biology and clinical development to advance innovative medicines for the treatment of anemia, fibrotic disease, and cancer.

Institutional Ownership by Quarter for FibroGen (NASDAQ:FGEN)

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