FibroGen (NASDAQ:FGEN) Trading Down 6.7% – What’s Next?

FibroGen, Inc. (NASDAQ:FGEN)’s stock price was down 6.7% on Tuesday . The company traded as low as $6.21 and last traded at $6.21. Approximately 64,423 shares were traded during trading, a decline of 18% from the average daily volume of 78,540 shares. The stock had previously closed at $6.65.

Analyst Ratings Changes

A number of analysts have recently weighed in on FGEN shares. William Blair reissued a “market perform” rating on shares of FibroGen in a research note on Tuesday, April 1st. HC Wainwright reaffirmed a “buy” rating and issued a $250.00 price target on shares of FibroGen in a research note on Tuesday, May 13th. Finally, Wall Street Zen began coverage on FibroGen in a research note on Saturday, May 17th. They issued a “hold” rating for the company.

FibroGen Stock Down 11.5%

The firm has a fifty day moving average price of $0.31 and a two-hundred day moving average price of $0.40. The stock has a market capitalization of $594.64 million, a P/E ratio of -4.80 and a beta of 0.83.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($4.00) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($4.75). The firm had revenue of $2.70 million during the quarter, compared to analysts’ expectations of $2.00 million. Sell-side analysts anticipate that FibroGen, Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FibroGen news, Director James A. Schoeneck acquired 10,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $8.75 per share, for a total transaction of $87,500.00. Following the purchase, the director now directly owns 12,948 shares of the company’s stock, valued at approximately $113,295. This trade represents a 339.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thane Wettig acquired 5,800 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average cost of $8.75 per share, for a total transaction of $50,750.00. Following the acquisition, the chief executive officer now owns 21,733 shares of the company’s stock, valued at $190,163.75. The trade was a 36.40% increase in their position. The disclosure for this purchase can be found here. 3.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Two Sigma Securities LLC purchased a new stake in FibroGen in the fourth quarter worth $27,000. XTX Topco Ltd increased its holdings in FibroGen by 423.8% during the fourth quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 77,693 shares during the period. Velan Capital Investment Management LP purchased a new position in FibroGen during the fourth quarter valued at approximately $42,000. Two Sigma Investments LP increased its holdings in FibroGen by 19.6% during the fourth quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company’s stock valued at $320,000 after buying an additional 98,888 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in FibroGen by 18.3% during the fourth quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company’s stock valued at $465,000 after buying an additional 135,600 shares during the period. 72.71% of the stock is currently owned by institutional investors.

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.