Insiders Ditching Shares Of These Stocks Amid Market Uncertainty

Moving on, Fred Klipsch, an Independent Director at Health Care REIT, Inc. (NYSE:HCN), sold 29,521 shares of the company on September 15 at a weighted average price of $63.95 per share and now owns 9,428 shares of the company directly and 11,341 shares indirectly, through a revocable trust. Although shares of Health Care REIT, Inc. (NYSE:HCN) have gradually declined throughout the year and currently trade down by 16% year-to-date, this decline has resulted in the annual dividend yield of the company rising significantly, to 5.12%. A majority of analysts and experts who track the stock believe that it is currently trading in the oversold territory. Billionaire David E. Shaw‘s firm D E Shaw more than quadrupled its stake in the company during the second quarter, to 593,749 shares.

Finally, let’s look at the insider selling in research-based biopharmaceutical company FibroGen Inc (NASDAQ:FGEN). Rory Riggs, an Independent Director of the company, disposed of 25,571 shares at a weighted average price of $27.56 per share on September 14, bringing his direct ownership in the company down to 480,200 shares. Mr. Riggs also owns 605,713 shares of FibroGen Inc (NASDAQ:FGEN) indirectly through New Ventures I, LLC. FibroGen’s stock had had a U-shaped journey in 2015 up to this point and currently boasts year-to-date gains of 7.64%. Though the stock fell by only 25% during the second quarter, the aggregate value of stakes in the company held by hedge funds we cover more than halved during that time, to $111.27 million from $232.85 million. On July 29, analysts at Citigroup initiated coverage on FibroGen’s stock with a ‘Buy’ rating and $37 price target, representing 63% upside at the time; shares have since risen by over 30%. Phill Gross and Robert Atchinson‘s Adage Capital Management was the largest shareholder of the company among the funds we track, owning over 2.5 million shares at the end of June.

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