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

FibroGen, Inc. (NASDAQ:FGEN) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 5,040,000 shares, a drop of 15.2% from the July 15th total of 5,940,000 shares. Based on an average daily trading volume, of 2,620,000 shares, the short-interest ratio is presently 1.9 days.

Insider Buying and Selling

In other news, insider Deyaa Adib bought 22,123 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average cost of $1.17 per share, with a total value of $25,883.91. Following the completion of the transaction, the insider now directly owns 82,123 shares in the company, valued at approximately $96,083.91. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC raised its stake in shares of FibroGen by 23.7% during the 4th quarter. Armistice Capital LLC now owns 9,764,000 shares of the biopharmaceutical company’s stock worth $8,654,000 after purchasing an additional 1,872,000 shares in the last quarter. Acadian Asset Management LLC raised its position in FibroGen by 34.4% during the second quarter. Acadian Asset Management LLC now owns 3,364,719 shares of the biopharmaceutical company’s stock worth $2,997,000 after acquiring an additional 860,854 shares in the last quarter. AQR Capital Management LLC lifted its stake in 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 acquiring an additional 769,586 shares during the last quarter. Pennant Investors LP bought a new position in shares of FibroGen in the 4th quarter valued at about $681,000. Finally, XTX Topco Ltd bought a new position in shares of FibroGen in the 2nd quarter valued at about $424,000. Institutional investors own 72.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FGEN. William Blair reaffirmed a “market perform” rating on shares of FibroGen in a report on Monday, June 3rd. StockNews.com started coverage on FibroGen in a research note on Sunday. They set a “hold” rating on the stock.

FibroGen Price Performance

FibroGen stock remained flat at $0.37 during trading hours on Friday. 1,363,820 shares of the company’s stock traded hands, compared to its average volume of 2,635,493. The stock has a 50 day moving average of $0.88 and a 200-day moving average of $1.39. The stock has a market capitalization of $36.36 million, a PE ratio of -0.15 and a beta of 0.71. FibroGen has a 1 year low of $0.33 and a 1 year high of $2.93.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.09. The business had revenue of $50.64 million during the quarter, compared to the consensus estimate of $33.00 million. During the same period in the previous year, the business posted ($0.65) earnings per share. As a group, sell-side analysts expect that FibroGen will post -1.05 EPS for the current year.

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.