Short Interest in FibroGen, Inc. (NASDAQ:FGEN) Expands By 7.2%

FibroGen, Inc. (NASDAQ:FGEN) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 4,320,000 shares, a growth of 7.2% from the October 15th total of 4,030,000 shares. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 3.7 days.

FibroGen Price Performance

FibroGen stock traded up $0.01 during midday trading on Tuesday, reaching $0.35. The company’s stock had a trading volume of 673,628 shares, compared to its average volume of 2,216,060. The stock’s 50-day simple moving average is $0.36 and its 200-day simple moving average is $0.70. FibroGen has a 52-week low of $0.18 and a 52-week high of $2.93. The stock has a market capitalization of $34.92 million, a P/E ratio of -0.27 and a beta of 0.72.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.21. The business had revenue of $46.33 million during the quarter, compared to analysts’ expectations of $34.00 million. During the same quarter last year, the business posted ($0.52) earnings per share. As a group, equities research analysts expect that FibroGen will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in shares of FibroGen by 34.4% in the second quarter. Acadian Asset Management LLC now owns 3,364,719 shares of the biopharmaceutical company’s stock valued at $2,997,000 after purchasing an additional 860,854 shares during the period. AQR Capital Management LLC increased its holdings in shares of FibroGen by 139.6% in the second quarter. AQR Capital Management LLC now owns 1,320,866 shares of the biopharmaceutical company’s stock valued at $1,179,000 after purchasing an additional 769,586 shares during the period. Geode Capital Management LLC increased its holdings in shares of FibroGen by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock valued at $433,000 after purchasing an additional 32,884 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of FibroGen in the third quarter valued at about $307,000. Finally, XTX Topco Ltd acquired a new position in shares of FibroGen in the second quarter valued at about $424,000. 72.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. William Blair restated a “market perform” rating on shares of FibroGen in a research note on Wednesday, November 13th. StockNews.com started coverage on FibroGen in a research note on Thursday, November 14th. They issued a “hold” rating for the company.

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.