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

FibroGen, Inc. (NASDAQ:FGEN) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 5,120,000 shares, a drop of 7.1% from the August 15th total of 5,510,000 shares. Based on an average daily volume of 2,220,000 shares, the days-to-cover ratio is currently 2.3 days.

FibroGen Price Performance

Shares of FibroGen stock opened at $0.42 on Friday. The business has a 50-day moving average of $0.60 and a 200 day moving average of $1.11. FibroGen has a 12 month low of $0.33 and a 12 month high of $2.93. The stock has a market capitalization of $41.38 million, a price-to-earnings ratio of -0.17 and a beta of 0.69.

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 the consensus estimate of ($0.25) by $0.09. The company had revenue of $50.64 million during the quarter, compared to analysts’ expectations of $33.00 million. During the same quarter in the previous year, the business posted ($0.65) EPS. Equities research analysts anticipate that FibroGen will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd boosted its stake in shares of FibroGen by 734.2% in the second quarter. Point72 DIFC Ltd now owns 52,254 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 45,990 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in FibroGen by 3,906.9% during the second quarter. Cubist Systematic Strategies LLC now owns 287,332 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 280,161 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in FibroGen during the second quarter worth $130,000. Doheny Asset Management CA purchased a new stake in FibroGen during the second quarter worth $48,000. Finally, AQR Capital Management LLC boosted its position in FibroGen by 139.6% during the second quarter. AQR Capital Management LLC now owns 1,320,866 shares of the biopharmaceutical company’s stock worth $1,179,000 after purchasing an additional 769,586 shares in the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on FGEN shares. William Blair reissued a “market perform” rating on shares of FibroGen in a research report on Monday, June 3rd. StockNews.com assumed coverage on FibroGen in a report on Thursday. They set 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.