FibroGen, Inc. (NASDAQ:FGEN) Sees Significant Growth in Short Interest

FibroGen, Inc. (NASDAQ:FGEN) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 5,300,000 shares, an increase of 79.7% from the February 13th total of 2,950,000 shares. Currently, 5.4% of the shares of the stock are sold short. Based on an average daily volume of 3,330,000 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FGEN. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of FibroGen in a report on Thursday, February 20th. StockNews.com assumed coverage on shares of FibroGen in a report on Friday. They set a “hold” rating for the company.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC purchased a new stake in shares of FibroGen in the 4th quarter valued at $27,000. Velan Capital Investment Management LP purchased a new stake in FibroGen during the fourth quarter worth about $42,000. XTX Topco Ltd lifted its position in shares of FibroGen by 423.8% during the fourth quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 77,693 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its stake in shares of FibroGen by 100.0% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 100,000 shares during the period. Finally, FMR LLC increased its stake in FibroGen by 21.8% during the 3rd 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 currently owned by hedge funds and other institutional investors.

FibroGen Stock Up 2.9 %

Shares of FGEN traded up $0.01 during trading on Friday, reaching $0.44. 1,204,677 shares of the company traded hands, compared to its average volume of 2,324,187. The stock has a 50-day simple moving average of $0.51 and a 200-day simple moving average of $0.43. FibroGen has a twelve month low of $0.18 and a twelve month high of $2.80. The stock has a market cap of $44.27 million, a PE ratio of -0.36 and a beta of 0.82.

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.