FibroBiologics Stock Scheduled to Reverse Split on Monday, March 30th (NASDAQ:FBLG)

Shares of FibroBiologics Inc. (NASDAQ:FBLG) are going to reverse split on the morning of Monday, March 30th. The 1-20 reverse split was announced on Wednesday, March 25th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, March 27th.

FibroBiologics Price Performance

FibroBiologics stock traded down $0.04 during trading hours on Thursday, reaching $0.22. The stock had a trading volume of 2,268,702 shares, compared to its average volume of 1,317,352. The company has a market cap of $14.87 million, a price-to-earnings ratio of -0.52 and a beta of -0.69. The business’s 50 day moving average price is $0.30 and its 200-day moving average price is $0.35. FibroBiologics has a 52 week low of $0.19 and a 52 week high of $1.53.

FibroBiologics (NASDAQ:FBLG) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. On average, sell-side analysts forecast that FibroBiologics will post -0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on FBLG. D. Boral Capital restated a “hold” rating on shares of FibroBiologics in a research note on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FibroBiologics in a research report on Thursday, January 22nd. Finally, HC Wainwright decreased their price objective on FibroBiologics to $4.00 and set a “buy” rating for the company in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.50.

Insider Activity at FibroBiologics

In related news, CFO Jason Davis bought 70,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average cost of $0.41 per share, for a total transaction of $28,700.00. Following the purchase, the chief financial officer directly owned 70,000 shares of the company’s stock, valued at approximately $28,700. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 191,500 shares of company stock valued at $72,893. Company insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FBLG. Yorkville Advisors Global LP acquired a new stake in shares of FibroBiologics during the third quarter worth $278,000. Landscape Capital Management L.L.C. acquired a new position in shares of FibroBiologics in the 3rd quarter valued at $191,000. Geode Capital Management LLC increased its position in shares of FibroBiologics by 20.7% in the 4th quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock valued at $78,000 after acquiring an additional 59,813 shares during the period. Renaissance Technologies LLC raised its stake in FibroBiologics by 287.3% in the 4th quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock worth $52,000 after acquiring an additional 171,800 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in FibroBiologics in the 4th quarter worth $34,000.

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.