FibroGen (NASDAQ:FGEN) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

FibroGen, Inc (NASDAQ:FGEN) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.20 and traded as low as $10.64. FibroGen shares last traded at $10.77, with a volume of 22,055 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright restated a “buy” rating and set a $43.00 price objective on shares of FibroGen in a research note on Wednesday, September 24th. Weiss Ratings restated a “sell (e+)” rating on shares of FibroGen in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised FibroGen from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.00.

FibroGen Stock Down 2.4%

The company has a 50 day moving average price of $11.20 and a 200-day moving average price of $8.55. The company has a market cap of $43.51 million, a P/E ratio of -28.34 and a beta of 0.76.

FibroGen (NASDAQ:FGEN) last announced its earnings results on Monday, August 11th. The biopharmaceutical company reported ($3.38) earnings per share for the quarter, missing the consensus estimate of ($2.25) by ($1.13). The company had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.88 million. On average, research analysts expect that FibroGen, Inc will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FGEN. Connective Capital Management LLC bought a new position in FibroGen during the second quarter valued at about $80,000. HighTower Advisors LLC boosted its stake in FibroGen by 292.8% during the first quarter. HighTower Advisors LLC now owns 404,488 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 301,500 shares in the last quarter. Finally, Armistice Capital LLC boosted its stake in FibroGen by 25.0% during the first quarter. Armistice Capital LLC now owns 8,500,000 shares of the biopharmaceutical company’s stock valued at $2,634,000 after buying an additional 1,700,000 shares in the last quarter. 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.