FibroGen, Inc. (NASDAQ:FGEN) Sees Significant Drop in Short Interest

FibroGen, Inc. (NASDAQ:FGEN) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 2,910,000 shares, a decline of 5.2% from the January 15th total of 3,070,000 shares. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is currently 2.3 days.

FibroGen Stock Up 5.5 %

Shares of FGEN stock opened at $0.59 on Wednesday. The stock has a market cap of $58.95 million, a price-to-earnings ratio of -0.48 and a beta of 0.75. The business’s fifty day moving average is $0.50 and its 200 day moving average is $0.42. FibroGen has a twelve month low of $0.18 and a twelve month high of $2.80.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. HC Wainwright raised FibroGen to a “strong-buy” rating in a research note on Tuesday, December 17th. StockNews.com assumed coverage on FibroGen in a research note on Thursday, February 13th. They set a “hold” rating on the stock. Finally, William Blair reissued a “market perform” rating on shares of FibroGen in a research note on Wednesday, November 13th.

Institutional Investors Weigh In On FibroGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FGEN. Assenagon Asset Management S.A. purchased a new stake in FibroGen in the third quarter worth $307,000. FMR LLC boosted its holdings in FibroGen by 21.8% in the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 68,569 shares in the last quarter. Geode Capital Management LLC boosted its holdings in FibroGen by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock worth $433,000 after acquiring an additional 32,884 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in FibroGen by 430.7% in the third quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock worth $668,000 after acquiring an additional 1,358,194 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its holdings in FibroGen by 100.0% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 100,000 shares in the last quarter. 72.71% of the stock is owned by hedge funds and other institutional investors.

FibroGen Company Profile

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.