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

Analysts at StockNews.com started coverage on shares of FibroGen (NASDAQ:FGEN) in a report issued on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of FibroGen in a research report on Thursday, February 20th.

FibroGen Stock Down 7.2 %

Shares of NASDAQ FGEN opened at $0.43 on Friday. The company’s 50-day simple moving average is $0.52 and its 200-day simple moving average is $0.43. FibroGen has a 52-week low of $0.18 and a 52-week high of $2.80. The firm has a market cap of $43.04 million, a price-to-earnings ratio of -0.35 and a beta of 0.82.

Hedge Funds Weigh In On FibroGen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in FibroGen by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock worth $433,000 after purchasing an additional 32,884 shares during the period. JPMorgan Chase & Co. raised its stake in FibroGen by 430.7% during the third quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock worth $668,000 after purchasing an additional 1,358,194 shares during the period. FMR LLC raised its stake in FibroGen by 21.8% during the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 68,569 shares during the period. Franklin Street Advisors Inc. NC raised its stake in FibroGen by 100.0% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 100,000 shares during the period. Finally, Two Sigma Investments LP raised its stake in FibroGen by 19.6% during the fourth quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company’s stock worth $320,000 after purchasing an additional 98,888 shares during the period. 72.71% of the stock is currently 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.