FibroGen, Inc. (NASDAQ:FGEN – Get Rating) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 4,950,000 shares, a decrease of 9.2% from the July 15th total of 5,450,000 shares. Currently, 5.8% of the company's shares are sold short. Based on an average daily volume of 971,600 shares, the short-interest ratio is presently 5.1 days.
FibroGen Stock Performance
Shares of FGEN remained flat at $14.44 during midday trading on Wednesday. 11,717 shares of the stock were exchanged, compared to its average volume of 653,054. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -6.05 and a beta of 0.87. The company's 50 day simple moving average is $11.91 and its 200 day simple moving average is $11.98. FibroGen has a 52 week low of $7.81 and a 52 week high of $16.91.
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FibroGen (NASDAQ:FGEN – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, topping analysts' consensus estimates of ($0.94) by $0.16. FibroGen had a negative return on equity of 100.51% and a negative net margin of 83.64%. The firm had revenue of $29.81 million for the quarter, compared to the consensus estimate of $36.15 million. During the same quarter in the previous year, the business earned ($1.45) earnings per share. The business's revenue was up 22.3% compared to the same quarter last year. As a group, analysts anticipate that FibroGen will post -3 earnings per share for the current fiscal year.
Hedge Funds Weigh In On FibroGen
Several institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in FibroGen by 369.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,795 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 2,200 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of FibroGen in the second quarter valued at approximately $39,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of FibroGen during the first quarter worth approximately $59,000. Lazard Asset Management LLC acquired a new stake in FibroGen during the 2nd quarter worth approximately $59,000. Finally, Advisor Group Holdings Inc. grew its holdings in FibroGen by 90.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 8,909 shares of the biopharmaceutical company's stock valued at $130,000 after buying an additional 4,236 shares in the last quarter. 77.35% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on FGEN shares. Cowen boosted their price target on shares of FibroGen to $14.00 in a report on Monday. The Goldman Sachs Group lowered their target price on FibroGen from $9.00 to $8.00 and set a "sell" rating for the company in a report on Tuesday, May 24th. Finally, StockNews.com cut shares of FibroGen from a "buy" rating to a "hold" rating in a report on Wednesday, August 10th.
FibroGen Company Profile
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FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States, Europe, China, and Japan; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.
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