Short Interest in FibroGen, Inc. (NASDAQ:FGEN) Drops By 7.1%

FibroGen, Inc. (NASDAQ:FGEN) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 5,120,000 shares, a decrease of 7.1% from the August 15th total of 5,510,000 shares. Based on an average trading volume of 2,220,000 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FGEN. William Blair reaffirmed a “market perform” rating on shares of FibroGen in a report on Monday, June 3rd. StockNews.com began coverage on FibroGen in a research note on Thursday. They issued a “hold” rating on the stock.

FibroGen Trading Down 6.3 %

FibroGen stock opened at $0.42 on Thursday. The stock has a 50-day moving average price of $0.61 and a 200 day moving average price of $1.12. FibroGen has a 52 week low of $0.33 and a 52 week high of $2.93. The stock has a market cap of $41.78 million, a PE ratio of -0.17 and a beta of 0.69.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.09. The firm had revenue of $50.64 million for the quarter, compared to analysts’ expectations of $33.00 million. During the same quarter last year, the firm earned ($0.65) earnings per share. On average, equities analysts predict that FibroGen will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in FibroGen in the first quarter valued at $131,000. Pennant Investors LP acquired a new position in shares of FibroGen during the 4th quarter valued at about $681,000. Acadian Asset Management LLC lifted its holdings in shares of FibroGen by 1.4% during the 1st quarter. Acadian Asset Management LLC now owns 2,503,865 shares of the biopharmaceutical company’s stock worth $5,883,000 after acquiring an additional 34,937 shares during the period. Accel Wealth Management acquired a new stake in shares of FibroGen in the first quarter worth approximately $103,000. Finally, Armistice Capital LLC grew its holdings in FibroGen by 23.7% in the fourth quarter. Armistice Capital LLC now owns 9,764,000 shares of the biopharmaceutical company’s stock valued at $8,654,000 after purchasing an additional 1,872,000 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.