FibroBiologics Inc. (NASDAQ:FBLG) Sees Significant Decrease in Short Interest

FibroBiologics Inc. (NASDAQ:FBLG) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 70,837 shares, a drop of 47.8% from the June 30th total of 135,794 shares. Based on an average daily volume of 59,556 shares, the short-interest ratio is presently 1.2 days. Currently, 1.3% of the shares of the stock are short sold.

FibroBiologics Price Performance

NASDAQ FBLG traded up $0.06 during trading hours on Thursday, reaching $0.72. The company’s stock had a trading volume of 128,142 shares, compared to its average volume of 251,687. The firm has a fifty day simple moving average of $0.88 and a 200-day simple moving average of $3.02. The stock has a market cap of $4.37 million, a P/E ratio of -0.10 and a beta of 1.14. FibroBiologics has a 52 week low of $0.62 and a 52 week high of $13.16.

FibroBiologics (NASDAQ:FBLG) last posted its earnings results on Thursday, April 30th. The company reported ($1.33) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.33). On average, research analysts expect that FibroBiologics will post -4.01 earnings per share for the current year.

Institutional Trading of FibroBiologics

Institutional investors have recently modified their holdings of the business. Landscape Capital Management L.L.C. bought a new position in FibroBiologics during the 3rd quarter worth $191,000. Geode Capital Management LLC grew 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 buying an additional 59,813 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of FibroBiologics by 287.3% in the fourth quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock valued at $52,000 after buying an additional 171,800 shares during the period. Jane Street Group LLC acquired a new stake in shares of FibroBiologics in the fourth quarter valued at about $34,000. Finally, AMG National Trust Bank bought a new position in shares of FibroBiologics during the fourth quarter worth about $31,000.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. Maxim Group downgraded shares of FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target (up from $4.00) on shares of FibroBiologics in a research note on Thursday, April 16th. Finally, Wall Street Zen raised FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, FibroBiologics presently has an average rating of “Hold” and a consensus price target of $74.00.

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.