Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. FibroGen Inc shares valued at $95,470 were purchased by Wettig Thane on Mar 07 ’24. At $1.91 per share, Wettig Thane acquired 50,000 shares. The insider’s holdings grew to 470,178 shares worth approximately $0.67 million following the completion of this transaction.
Also, Henderson Jeffrey William sold 2,000 shares, netting a total of over 2,060 in proceeds. Following the sale of shares at $1.03 each, the insider now holds 28,866 shares.
Before that, Henderson Jeffrey William had sold 2,000 shares from its account. In a trade valued at $3,820, the Director traded FibroGen Inc shares for $1.91 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $44138.38.
As published in a research note from BofA Securities on August 08, 2023, FibroGen Inc [FGEN] has been rated down from a Neutral to an Underperform and the price target has been revised to $2 from $4. Analysts at William Blair downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in late June. As of June 26, 2023, Stifel has decreased its “Buy” rating to a “Hold” for FGEN. Earlier on June 26, 2023, Raymond James downgraded its rating. Their new recommendation was “a Mkt perform” for FGEN stock which previously was a “an Outperform”.
Analyzing FGEN Stock Performance
During the last five days, there has been a drop of approximately -2.72%. Over the course of the year, FibroGen Inc shares have jumped approximately 61.34%. Shares of the company reached a 52-week high of $2.9300 on 02/12/24 and a 52-week low of $0.6900 on 01/05/24. A 50-day SMA is recorded $2.0419, while a 200-day SMA reached $1.3443. Nevertheless, trading volume fell to 1.36 million shares from 1.2 million shares the previous day.
Support And Resistance Levels for FibroGen Inc (FGEN)
According to the 24-hour chart, there is a support level at 1.3567, which, if violated, would cause prices to drop to 1.2833. In the upper region, resistance lies at 1.5067. The next price resistance is at 1.5833. RSI (Relative Strength Index) is 35.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.5324, which suggests the price will decrease in the coming days. Percent R is at 84.57%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is FibroGen Inc subject to short interest?
Stocks of FibroGen Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.68 million shares to 5.53 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.21 million shares. A decline of -30.38% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.12 of the overall float, the days-to-cover ratio (short ratio) decline to 3.12.
