FibroGen, Inc. (NASDAQ:FGEN – Get Rating) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 4,950,000 shares, a drop 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 trading volume of 971,600 shares, the days-to-cover ratio is presently 5.1 days.
Institutional Investors Weigh In On FibroGen
Several hedge funds and other institutional investors have recently made changes to their positions in FGEN. Nisa Investment Advisors LLC increased its holdings in FibroGen by 369.7% during the second 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 purchased a new position in FibroGen during the second quarter valued at $39,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in FibroGen during the first quarter valued at about $59,000. Lazard Asset Management LLC bought a new position in shares of FibroGen in the second quarter worth about $59,000. Finally, Advisor Group Holdings Inc. lifted its position in shares of FibroGen by 90.6% during 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. Hedge funds and other institutional investors own 77.35% of the company's stock.
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FibroGen Stock Performance
Shares of NASDAQ:FGEN remained flat at $14.44 on Wednesday. The stock had a trading volume of 11,717 shares, compared to its average volume of 653,054. The company has a market capitalization of $1.35 billion, a P/E ratio of -6.05 and a beta of 0.87. The business has a 50 day moving average price of $11.91 and a 200 day moving average price of $11.98. FibroGen has a 1 year low of $7.81 and a 1 year high of $16.91.
FibroGen (NASDAQ:FGEN – Get Rating) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.16. FibroGen had a negative net
margin of 83.64% and a negative return on equity of 100.51%. 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 prior year, the firm posted ($1.45) earnings per share. The business's revenue was up 22.3% on a year-over-year basis. On average, equities analysts anticipate that FibroGen will post -3 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. The Goldman Sachs Group decreased 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. Cowen increased their target price on FibroGen to $14.00 in a research report on Monday. Finally, StockNews.com lowered FibroGen from a "buy" rating to a "hold" rating in a research report on Wednesday, August 10th.
About FibroGen
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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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