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

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

Several other brokerages have also issued reports on FGEN. William Blair reiterated a “market perform” rating on shares of FibroGen in a research note on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of FibroGen in a research note on Thursday.

FibroGen Trading Up 37.4 %

Shares of FGEN stock opened at $0.77 on Friday. FibroGen has a 1 year low of $0.18 and a 1 year high of $2.80. The firm’s fifty day moving average price is $0.52 and its two-hundred day moving average price is $0.43. The firm has a market capitalization of $77.83 million, a P/E ratio of -0.63 and a beta of 0.75.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp increased its stake in shares of FibroGen by 416.6% during the 4th quarter. Mackenzie Financial Corp now owns 546,959 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 441,083 shares during the last quarter. Velan Capital Investment Management LP bought a new stake in shares of FibroGen during the 4th quarter worth about $42,000. Squarepoint Ops LLC bought a new stake in shares of FibroGen during the 4th quarter worth about $205,000. Two Sigma Investments LP boosted its holdings in shares of FibroGen by 19.6% during the 4th quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company’s stock worth $320,000 after buying an additional 98,888 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in shares of FibroGen by 18.3% during the 4th quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company’s stock worth $465,000 after buying an additional 135,600 shares during the period. 72.71% of the stock is currently owned by institutional investors and hedge funds.

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.