Short Interest in FibroGen Inc (NASDAQ:FGEN) Increases By 5.8%

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FibroGen Inc (NASDAQ:FGEN) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 4,370,000 shares, an increase of 5.8% from the September 30th total of 4,130,000 shares. Based on an average daily volume of 699,800 shares, the short-interest ratio is currently 6.2 days. Approximately 5.8% of the company’s stock are short sold.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of FibroGen from a “strong-buy” rating to a “hold” rating in a research note on Thursday. ValuEngine upgraded shares of FibroGen from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. BidaskClub upgraded shares of FibroGen from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. TheStreet upgraded shares of FibroGen from a “d+” rating to a “c” rating in a research note on Tuesday, August 13th. Finally, Mizuho reiterated a “positive” rating and set a $72.00 price objective (up from $65.00) on shares of FibroGen in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $58.33.

In other news, CEO Thomas B. Neff sold 39,636 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $44.33, for a total transaction of $1,757,063.88. Following the transaction, the chief executive officer now directly owns 2,356,578 shares in the company, valued at $104,467,102.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Christine Chung sold 11,250 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $43.17, for a total transaction of $485,662.50. Following the transaction, the senior vice president now owns 157,195 shares in the company, valued at $6,786,108.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,381 shares of company stock worth $3,839,495. Insiders own 8.96% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors acquired a new stake in shares of FibroGen in the second quarter valued at about $90,000. US Bancorp DE grew its position in shares of FibroGen by 79.7% in the second quarter. US Bancorp DE now owns 2,172 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 963 shares during the period. Usca Ria LLC acquired a new stake in shares of FibroGen in the third quarter valued at about $123,000. Convergence Investment Partners LLC acquired a new stake in shares of FibroGen in the third quarter valued at about $137,000. Finally, Nisa Investment Advisors LLC grew its position in shares of FibroGen by 729.8% in the third quarter. Nisa Investment Advisors LLC now owns 3,900 shares of the biopharmaceutical company’s stock valued at $144,000 after purchasing an additional 3,430 shares during the period. Institutional investors and hedge funds own 69.03% of the company’s stock.

NASDAQ:FGEN traded up $2.01 during midday trading on Friday, reaching $36.99. 1,002,000 shares of the stock traded hands, compared to its average volume of 1,180,421. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.71 and a current ratio of 9.01. The business has a 50-day moving average of $38.31 and a two-hundred day moving average of $41.63. FibroGen has a 12-month low of $32.33 and a 12-month high of $61.23. The stock has a market capitalization of $3.05 billion, a PE ratio of -35.91 and a beta of 1.84.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results on Monday, November 11th. The biopharmaceutical company reported ($0.57) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.02. The company had revenue of $33.17 million for the quarter, compared to analyst estimates of $31.61 million. FibroGen had a net margin of 11.81% and a return on equity of 7.33%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.50) earnings per share. Research analysts anticipate that FibroGen will post -0.16 earnings per share for the current year.

About FibroGen

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. It is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases (HIF-PHs) that is in Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States and Europe; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

Further Reading: The four types of profit margin

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