FibroGen (NASDAQ:FGEN) Stock Passes Above 50-Day Moving Average – Time to Sell?

FibroGen, Inc (NASDAQ:FGEN)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $8.96 and traded as high as $9.75. FibroGen shares last traded at $9.77, with a volume of 31,125 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of FibroGen in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, FibroGen presently has an average rating of “Hold” and a consensus price target of $43.00.

FibroGen Price Performance

The company has a market cap of $39.57 million, a PE ratio of 0.18 and a beta of 0.77. The business has a 50-day moving average of $8.96 and a 200 day moving average of $9.73.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Monday, November 10th. The biopharmaceutical company reported ($1.61) earnings per share for the quarter, beating the consensus estimate of ($4.01) by $2.40. The firm had revenue of $1.08 million during the quarter, compared to the consensus estimate of $1.64 million. On average, equities analysts predict that FibroGen, Inc will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On FibroGen

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Connective Capital Management LLC purchased a new position in FibroGen in the 2nd quarter valued at about $80,000. Squarepoint Ops LLC acquired a new position in shares of FibroGen during the third quarter valued at approximately $201,000. Citadel Advisors LLC purchased a new position in shares of FibroGen in the third quarter valued at approximately $288,000. Two Sigma Investments LP lifted its position in shares of 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 acquiring an additional 26,107 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of FibroGen by 3.5% in the third quarter. Vanguard Group Inc. now owns 184,244 shares of the biopharmaceutical company’s stock worth $2,257,000 after acquiring an additional 6,204 shares during the last quarter. 72.71% of the stock is currently 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.