FibroGen (NASDAQ:FGEN) Stock Passes Below 50 Day Moving Average – Here’s What Happened

FibroGen, Inc (NASDAQ:FGEN)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.38 and traded as low as $8.60. FibroGen shares last traded at $8.78, with a volume of 28,917 shares.

Analyst Ratings Changes

Several analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $43.00 price target on shares of FibroGen in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of FibroGen from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of FibroGen in a report on Monday, December 22nd. One equities 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.00.

FibroGen Stock Performance

The company has a market cap of $35.56 million, a P/E ratio of 0.16 and a beta of 0.75. The stock has a 50-day moving average of $9.38 and a two-hundred day moving average of $9.24.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Monday, November 10th. The biopharmaceutical company reported ($1.61) EPS for the quarter, beating analysts’ consensus estimates of ($4.01) by $2.40. The business had revenue of $1.08 million for the quarter, compared to the consensus estimate of $1.64 million. As a group, sell-side analysts forecast that FibroGen, Inc will post -0.8 EPS for the current fiscal year.

Institutional Trading of FibroGen

Several hedge funds have recently added to or reduced their stakes in the business. Connective Capital Management LLC bought a new position in shares of FibroGen during the second quarter valued at about $80,000. HighTower Advisors LLC boosted its holdings in FibroGen by 292.8% during the 1st quarter. HighTower Advisors LLC now owns 404,488 shares of the biopharmaceutical company’s stock valued at $125,000 after acquiring an additional 301,500 shares during the period. Squarepoint Ops LLC bought a new position in FibroGen during the 3rd quarter worth approximately $201,000. Citadel Advisors LLC purchased a new position in FibroGen in the 3rd quarter worth approximately $288,000. Finally, Two Sigma Investments LP lifted its position in FibroGen by 185.0% in the third quarter. Two Sigma Investments LP now owns 40,218 shares of the biopharmaceutical company’s stock valued at $493,000 after purchasing an additional 26,107 shares during the last quarter. 72.71% of the stock is owned by institutional investors.

About FibroGen

FibroGen, Inc, headquartered in San Francisco, California, is a biopharmaceutical company focused on the discovery, development and commercialization of novel therapies for serious unmet medical needs. Since its founding in 1993, the company has built a diversified portfolio encompassing small molecules and biologics that address anemia, fibrotic diseases and oncology.

The company’s lead product, roxadustat, is an oral hypoxia-inducible factor prolyl hydroxylase (HIF-PH) inhibitor designed to treat anemia in chronic kidney disease.