Why Has FibroGen Inc’s (NASDAQ: FGEN) Share Price Dropped So Much?

FibroGen Inc (NASDAQ:FGEN) price closed higher on Monday, April 15, jumping 0.77% above its previous close.

A look at the daily price movement shows that the last close reads $1.30. The company’s 5Y monthly beta was ticking 0.74. Taking into account the 52-week price action we note that the stock hit a 52-week high of $20.90 and 52-week low of $0.33. The stock subtracted -37.32% on its value in the past month.

FibroGen Inc, which has a market valuation of $129.39 million, is expected to release its quarterly earnings report May 06, 2024 – May 10, 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give FGEN a short term outlook of Hold on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as Hold.

The overview shows that FGEN’s price is at present -35.16% off the SMA20 and -35.22% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 33.56, with weekly volatility standing at 9.91%. The indicator jumps to 15.78% when calculated based on the past 30 days. FibroGen Inc (NASDAQ:FGEN)’s beta value is holding at 0.82, while the average true range (ATR) indicator is currently reading 0.26.

An analysis of the FibroGen Inc (NASDAQ:FGEN) stock in terms of its daily trading volume indicates that the 3-month average is 2.85 million.

Current records show that the company has 98.77M in outstanding shares. The insiders’ percentage holdings are 7.02% of outstanding shares while the percentage share held by institutions stands at 71.23%. But the 47.81% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.

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