FibroGen (NASDAQ:FGEN) Share Price Crosses Above 50 Day Moving Average of $1.70

FibroGen, Inc. (NASDAQ:FGEN)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $1.70 and traded as high as $1.74. FibroGen shares last traded at $1.37, with a volume of 34,107,993 shares.

Analyst Upgrades and Downgrades

Separately, William Blair reissued a “market perform” rating on shares of FibroGen in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, FibroGen has a consensus rating of “Hold” and a consensus price target of $17.00.

FibroGen Price Performance

The firm has a fifty day simple moving average of $1.70 and a 200-day simple moving average of $1.24. The firm has a market cap of $136.27 million, a P/E ratio of -0.47 and a beta of 0.88.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.15). The company had revenue of $27.14 million for the quarter, compared to analyst estimates of $40.00 million. On average, equities analysts predict that FibroGen, Inc. will post -1.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Thane Wettig purchased 50,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was acquired at an average cost of $1.91 per share, with a total value of $95,500.00. Following the transaction, the chief executive officer now owns 470,178 shares of the company’s stock, valued at approximately $898,039.98. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FibroGen

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in shares of FibroGen in the third quarter valued at approximately $37,000. Mackenzie Financial Corp boosted its position in FibroGen by 112.6% in the third quarter. Mackenzie Financial Corp now owns 51,490 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 27,275 shares during the last quarter. Quantbot Technologies LP bought a new position in FibroGen in the 3rd quarter valued at $45,000. SG Americas Securities LLC increased its position in shares of FibroGen by 498.8% during the 3rd quarter. SG Americas Securities LLC now owns 62,710 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 52,237 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of FibroGen during the 3rd quarter worth $94,000. Hedge funds and other institutional investors 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.