FibroBiologics’ (FBLG) Buy Rating Reaffirmed at HC Wainwright

FibroBiologics (NASDAQ:FBLG)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $5.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FibroBiologics in a research note on Wednesday, October 8th. D. Boral Capital restated a “buy” rating and set a $15.00 price target on shares of FibroBiologics in a report on Thursday, November 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.00.

FibroBiologics Price Performance

Shares of FBLG opened at $0.22 on Friday. The stock has a market capitalization of $14.96 million, a price-to-earnings ratio of -0.47 and a beta of -0.54. FibroBiologics has a 1 year low of $0.22 and a 1 year high of $2.39. The business’s 50 day simple moving average is $0.31 and its 200-day simple moving average is $0.49.

FibroBiologics (NASDAQ:FBLG) last released its quarterly earnings data on Friday, October 31st. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). On average, sell-side analysts expect that FibroBiologics will post -0.53 earnings per share for the current year.

Insider Activity

In other FibroBiologics news, General Counsel Ruben A. Garcia acquired 140,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was bought at an average price of $0.34 per share, for a total transaction of $47,600.00. Following the acquisition, the general counsel directly owned 140,000 shares in the company, valued at $47,600. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.00% of the company’s stock.

Institutional Trading of FibroBiologics

A number of large investors have recently made changes to their positions in the stock. Yorkville Advisors Global LP bought a new position in shares of FibroBiologics in the third quarter worth about $278,000. Landscape Capital Management L.L.C. purchased a new stake in FibroBiologics in the 3rd quarter valued at about $191,000. Jane Street Group LLC bought a new position in FibroBiologics in the 2nd quarter worth about $60,000. Cerity Partners LLC increased its position in shares of FibroBiologics by 37.2% during the second quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock worth $80,000 after acquiring an additional 34,702 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of FibroBiologics during the second quarter worth approximately $49,000.

About FibroBiologics

FibroBiologics, Inc operates as a cell therapy, regenerative medicine company. It is developing a pipeline of treatments and potential cures for chronic diseases using fibroblast cells and fibroblast-derived materials. It holds 150+ U.S. and internationally issued patents/patents pending across various clinical pathways, including disc degeneration, orthopedics, multiple sclerosis, psoriasis, wound healing, reversing organ involution, and cancer. FibroBiologics, Inc was incorporated in 2021 and is based in Houston, Texas.