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

FibroGen, Inc. (NASDAQ:FGEN) was the target of a significant growth in short interest in 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 presently 3.7 days.

FibroGen Stock Down 1.1 %

Shares of FGEN traded down $0.00 during mid-day trading on Tuesday, hitting $0.33. The stock had a trading volume of 259,866 shares, compared to its average volume of 2,214,452. The company has a market cap of $33.64 million, a PE ratio of -0.27 and a beta of 0.72. FibroGen has a fifty-two week low of $0.18 and a fifty-two week high of $2.93. The company’s fifty day simple moving average is $0.36 and its two-hundred day simple moving average is $0.70.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.21. The business had revenue of $46.33 million for the quarter, compared to the consensus estimate of $34.00 million. During the same period in the prior year, the company earned ($0.52) EPS. Equities analysts expect that FibroGen will post -0.86 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC raised its position in shares of FibroGen by 34.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,364,719 shares of the biopharmaceutical company’s stock worth $2,997,000 after buying an additional 860,854 shares in the last quarter. AQR Capital Management LLC lifted its position 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 worth $1,179,000 after purchasing an additional 769,586 shares during the period. Geode Capital Management LLC boosted its stake in FibroGen by 3.1% during the 3rd 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 in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of FibroGen during the 3rd quarter valued at $307,000. Finally, XTX Topco Ltd bought a new stake in shares of FibroGen in the 2nd quarter worth $424,000. Institutional investors own 72.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com assumed coverage on shares of FibroGen in a report on Thursday, November 14th. They issued a “hold” rating on the stock. William Blair restated a “market perform” rating on shares of FibroGen in a research note on Wednesday, November 13th.

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.