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

FibroGen, Inc. (NASDAQ:FGEN) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 3,440,000 shares, a drop of 11.8% from the November 15th total of 3,900,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is presently 2.9 days.

Hedge Funds Weigh In On FibroGen

Hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd increased its holdings in shares of FibroGen by 734.2% during the 2nd quarter. Point72 DIFC Ltd now owns 52,254 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 45,990 shares during the last quarter. Doheny Asset Management CA acquired a new stake in FibroGen during the second quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of FibroGen in the 2nd quarter worth about $130,000. Sei Investments Co. lifted its stake in shares of FibroGen by 38.4% in the 2nd quarter. Sei Investments Co. now owns 149,342 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 41,442 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of FibroGen during the 2nd quarter worth about $145,000. Institutional investors and hedge funds own 72.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FGEN. William Blair reaffirmed a “market perform” rating on shares of FibroGen in a research note on Wednesday, November 13th. StockNews.com started coverage on shares of FibroGen in a research note on Monday. They issued a “hold” rating for the company.

FibroGen Stock Performance

NASDAQ FGEN traded up $0.02 during trading hours on Tuesday, hitting $0.35. 1,422,219 shares of the company’s stock were exchanged, compared to its average volume of 2,117,156. The business’s 50 day moving average is $0.35 and its 200-day moving average is $0.58. FibroGen has a 12-month low of $0.18 and a 12-month high of $2.93. The firm has a market capitalization of $35.08 million, a P/E ratio of -0.26 and a beta of 0.82.

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, topping the consensus estimate of ($0.38) by $0.21. The company had revenue of $46.33 million for the quarter, compared to analysts’ expectations of $34.00 million. During the same quarter in the previous year, the company earned ($0.52) earnings per share. As a group, equities research analysts anticipate that FibroGen will post -0.86 EPS for the current fiscal year.

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.