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Why is Fibrogen Inc (FGEN) Stock down?

We've noticed a 5.36% decline in Fibrogen Inc (FGEN) stock during the 2024-06-17 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
27 Jun, 2023:

Shares of FibroGen (FGEN) down 7.38% today due to the lowered rating by several analysts. Raymond James downgraded shares of FibroGen from an “outperform” rating to a “market perform” rating in a research report on Monday. William Blair downgraded shares of FibroGen from an “outperform” rating to a “market perform” rating in a research report on Monday. Bank of America downgraded shares of FibroGen from a “buy” rating to a “neutral” rating in a research report on Monday.

https://www.americanbankingnews.com/2023/06/28/fibrogen-nasdaqfgen-rating-lowered-to-hold-at-stifel-nicolaus.html

26 Jun, 2023:

FGEN's stock fell 83.12% because the company’s Phase 3 clinical trial failed to meet its primary endpoint. This has it ending the development of pamrevlumab as an idiopathic pulmonary fibrosis (IPF) treatment. The company will have to change priorities in how it operates to deal with the blow of spending research and development costs on a failed product.

https://investorplace.com/2023/06/why-is-fibrogen-fgen-stock-down-81-today/

24 Apr, 2023:

The Q1 2023 financial results of FibroGen, Inc. (NASDAQ: FGEN) will be made public after market close on May 8, followed by a conference call with the investment community at 5:00 PM Eastern Time to provide further details about the company's corporate and financial performance. The stock has experienced a drop today, which could be attributed to investor concerns and speculation leading up to the release of the report.

https://finance.yahoo.com/news/fibrogen-report-first-quarter-2023-110000329.html

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