FibroGen, Inc. (NASDAQ:FGEN) Short Interest Update

FibroGen, Inc. (NASDAQ:FGEN) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 5,190,000 shares, a drop of 6.1% from the March 15th total of 5,530,000 shares. Based on an average trading volume of 2,740,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 5.7% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, William Blair reiterated a “market perform” rating on shares of FibroGen in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.00.

FibroGen Stock Down 0.8 %

Shares of FGEN stock traded down $0.01 during mid-day trading on Tuesday, reaching $1.30. The company’s stock had a trading volume of 863,690 shares, compared to its average volume of 2,561,018. The company’s 50 day simple moving average is $2.01 and its 200-day simple moving average is $1.19. FibroGen has a 12-month low of $0.33 and a 12-month high of $20.90. The firm has a market capitalization of $128.40 million, a PE ratio of -0.44 and a beta of 0.70.

FibroGen (NASDAQ:FGEN) last issued its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.15). The firm had revenue of $27.14 million for the quarter, compared to analyst estimates of $40.00 million. As a group, research analysts anticipate that FibroGen will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Thane Wettig bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were purchased at an average price of $1.91 per share, for a total transaction of $95,500.00. Following the completion of the transaction, the chief executive officer now owns 470,178 shares in the company, valued at $898,039.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On FibroGen

Hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new position in shares of FibroGen in the 4th quarter valued at $28,000. Wexford Capital LP purchased a new stake in FibroGen during the 4th quarter worth $29,000. Royal Bank of Canada lifted its holdings in FibroGen by 45.3% in the 3rd quarter. Royal Bank of Canada now owns 2,314 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 721 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in FibroGen in the 3rd quarter worth $37,000. Finally, Quantbot Technologies LP acquired a new position in FibroGen in the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 72.71% of the company’s stock.

About FibroGen

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.