FibroGen, Inc. (NASDAQ:FGEN) Short Interest Down 6.1% in March

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

FibroGen Trading Down 2.3 %

Shares of NASDAQ FGEN opened at $1.27 on Thursday. The firm has a market cap of $125.44 million, a PE ratio of -0.43 and a beta of 0.70. FibroGen has a 1-year low of $0.33 and a 1-year high of $20.90. The company has a fifty day moving average price of $1.98 and a 200 day moving average price of $1.19.

FibroGen (NASDAQ:FGEN) last announced its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.15). The company had revenue of $27.14 million for the quarter, compared to analysts’ expectations of $40.00 million. Equities research analysts forecast that FibroGen will post -1.09 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity

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

Hedge Funds Weigh In On FibroGen

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new position in FibroGen in the 4th quarter worth $28,000. Wexford Capital LP bought a new stake in FibroGen during the 4th quarter worth about $29,000. Royal Bank of Canada lifted its position in FibroGen by 45.3% during 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. bought a new stake in FibroGen during the 3rd quarter worth about $37,000. Finally, Quantbot Technologies LP bought a new stake in FibroGen during the 2nd quarter worth about $39,000. 72.71% of the stock is owned by institutional investors and hedge funds.

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.