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

FibroGen, Inc. (NASDAQ:FGEN) saw a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 2,910,000 shares, a decrease 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 presently 2.3 days.

Hedge Funds Weigh In On FibroGen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of 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 buying an additional 32,884 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 1,358,194 shares during the period. FMR LLC boosted its position in shares of 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 buying an additional 68,569 shares during the period. Franklin Street Advisors Inc. NC boosted its position in shares of 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 buying an additional 100,000 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of FibroGen during the third quarter worth approximately $307,000. 72.71% of the stock is currently owned by institutional investors and hedge funds.

FibroGen Trading Down 3.9 %

Shares of NASDAQ FGEN opened at $0.56 on Thursday. The stock has a 50 day simple moving average of $0.51 and a 200-day simple moving average of $0.42. The company has a market cap of $56.63 million, a PE ratio of -0.46 and a beta of 0.75. FibroGen has a 12-month low of $0.18 and a 12-month high of $2.80.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FGEN. StockNews.com began coverage on FibroGen in a report on Thursday, February 13th. They set a “hold” rating for the company. William Blair reaffirmed a “market perform” rating on shares of FibroGen in a report on Wednesday, November 13th. Finally, HC Wainwright raised FibroGen to a “strong-buy” rating in a report on Tuesday, December 17th.

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.