StockNews.com Initiates Coverage on FibroGen (NASDAQ:FGEN)

Equities researchers at StockNews.com started coverage on shares of FibroGen (NASDAQ:FGEN) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of FibroGen in a report on Tuesday, March 18th.

FibroGen Trading Down 1.2 %

Shares of FGEN opened at $0.31 on Friday. FibroGen has a twelve month low of $0.18 and a twelve month high of $2.40. The company has a market cap of $31.27 million, a P/E ratio of -0.25 and a beta of 0.82. The company’s fifty day simple moving average is $0.46 and its 200-day simple moving average is $0.43.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Monday, March 17th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $3.14 million during the quarter, compared to the consensus estimate of $24.91 million. Analysts predict that FibroGen will post -0.8 earnings per share for the current fiscal year.

Insider Activity

In other FibroGen news, CEO Thane Wettig purchased 145,000 shares of the business’s stock in a transaction on Monday, March 24th. The shares were bought at an average cost of $0.35 per share, for a total transaction of $50,750.00. Following the completion of the purchase, the chief executive officer now directly owns 543,329 shares in the company, valued at approximately $190,165.15. This represents a 36.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James A. Schoeneck acquired 250,000 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $0.35 per share, for a total transaction of $87,500.00. Following the acquisition, the director now owns 323,722 shares of the company’s stock, valued at $113,302.70. This represents a 339.11 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Two Sigma Securities LLC acquired a new position in FibroGen in the fourth quarter valued at $27,000. Velan Capital Investment Management LP purchased a new stake in shares of FibroGen in the 4th quarter valued at about $42,000. XTX Topco Ltd boosted its position in shares of FibroGen by 423.8% in the 4th quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 77,693 shares during the period. Franklin Street Advisors Inc. NC grew its stake in FibroGen by 100.0% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 100,000 shares during the last quarter. Finally, FMR LLC increased its position in FibroGen by 21.8% during the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 68,569 shares during the period. 72.71% of the stock is owned by hedge funds and other institutional investors.

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.