StockNews.com Initiates Coverage on FibroGen (NASDAQ:FGEN)

Investment analysts at StockNews.com initiated coverage on shares of FibroGen (NASDAQ:FGEN) in a note issued to investors on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of FibroGen in a research report on Tuesday, March 18th. William Blair restated a “market perform” rating on shares of FibroGen in a research report on Tuesday, April 1st.

FibroGen Trading Down 3.6 %

Shares of NASDAQ FGEN opened at $0.31 on Friday. FibroGen has a 12-month low of $0.18 and a 12-month high of $1.53. The company has a market cap of $31.12 million, a price-to-earnings ratio of -0.25 and a beta of 0.86. The stock’s 50 day simple moving average is $0.33 and its 200 day simple moving average is $0.41.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $3.14 million for the quarter, compared to the consensus estimate of $24.91 million. As a group, equities analysts forecast that FibroGen will post -0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FibroGen news, Director James A. Schoeneck purchased 250,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $0.35 per share, with a total value of $87,500.00. Following the completion of the transaction, the director now directly owns 323,722 shares of the company’s stock, valued at approximately $113,302.70. This trade represents a 339.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thane Wettig bought 145,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average price of $0.35 per share, with a total value of $50,750.00. Following the transaction, the chief executive officer now directly owns 543,329 shares in the company, valued at $190,165.15. This trade represents a 36.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.07% of the company’s stock.

Institutional Trading of FibroGen

Large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in FibroGen by 416.6% in the fourth quarter. Mackenzie Financial Corp now owns 546,959 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 441,083 shares in the last quarter. Velan Capital Investment Management LP acquired a new position in FibroGen during the 4th quarter worth about $42,000. Squarepoint Ops LLC bought a new stake in FibroGen during the 4th quarter worth about $205,000. Two Sigma Investments LP increased its position in FibroGen by 19.6% in the 4th quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company’s stock valued at $320,000 after acquiring an additional 98,888 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of FibroGen by 18.3% during the fourth quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company’s stock worth $465,000 after purchasing an additional 135,600 shares in the last quarter. 72.71% of the stock is owned by institutional investors.

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.