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

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

Separately, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of FibroGen in a report on Thursday, February 20th.

FibroGen Price Performance

Shares of FibroGen stock opened at $0.43 on Friday. The firm has a fifty day moving average price of $0.52 and a 200 day moving average price of $0.43. FibroGen has a 1 year low of $0.18 and a 1 year high of $2.80. The stock has a market cap of $43.04 million, a PE ratio of -0.35 and a beta of 0.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new position in FibroGen in the fourth quarter valued at $27,000. Velan Capital Investment Management LP purchased a new position in FibroGen in the fourth quarter valued at $42,000. XTX Topco Ltd increased its holdings in FibroGen by 423.8% in the fourth quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 77,693 shares in the last quarter. Franklin Street Advisors Inc. NC grew its position 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 grew its position in shares of FibroGen by 21.8% in the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 68,569 shares during the period. Hedge funds and other institutional investors own 72.71% of the company’s stock.

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.