FibroGen (NASDAQ:FGEN) Shares Pass Above 50 Day Moving Average – Here’s What Happened

FibroGen, Inc. (NASDAQ:FGEN) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $0.45 and traded as high as $0.61. FibroGen shares last traded at $0.57, with a volume of 1,271,728 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. William Blair reiterated a “market perform” rating on shares of FibroGen in a research report on Wednesday, November 13th. HC Wainwright raised shares of FibroGen to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, StockNews.com started coverage on FibroGen in a research note on Wednesday, January 1st. They set a “hold” rating on the stock.

FibroGen Stock Performance

The firm’s fifty day simple moving average is $0.45 and its 200 day simple moving average is $0.49. The stock has a market capitalization of $57.72 million, a price-to-earnings ratio of -0.47 and a beta of 0.75.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.21. The company had revenue of $46.33 million for the quarter, compared to analyst estimates of $34.00 million. During the same quarter in the previous year, the business earned ($0.52) earnings per share. Analysts forecast that FibroGen, Inc. will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On FibroGen

A number of large investors have recently bought and sold shares of the company. Franklin Street Advisors Inc. NC lifted its position in shares of 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 purchasing an additional 100,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of FibroGen by 430.7% in the third quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock valued at $668,000 after acquiring an additional 1,358,194 shares during the last quarter. Geode Capital Management LLC increased its position 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 acquiring an additional 32,884 shares during the last quarter. FMR LLC grew its stake in FibroGen by 21.8% in the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 68,569 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of FibroGen during the 3rd quarter worth approximately $307,000. Institutional investors and hedge funds own 72.71% of the company’s stock.

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.