FibroBiologics Inc. (NASDAQ:FBLG) Stock Short Interest Climbs 60.0%

FibroBiologics Inc. (NASDAQ:FBLG) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 661,912 shares, a growth of 60.0% from the August 31st total of 413,742 shares. Currently, 10.7% of the shares of the company are sold short. Based on an average daily volume of 357,923 shares, the short-interest ratio is currently 1.8 days.

FibroBiologics Stock Down 0.8%

NASDAQ:FBLG traded down $0.01 during trading hours on Wednesday, reaching $1.30. 107,272 shares of the company’s stock were exchanged, compared to its average volume of 173,494. The company has a market capitalization of $8.66 million, a P/E ratio of -0.25 and a beta of 1.65. FibroBiologics has a 12 month low of $0.62 and a 12 month high of $11.40. The business’s 50-day simple moving average is $1.28 and its two-hundred day simple moving average is $1.48.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly earnings results on Friday, July 31st. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.27. As a group, sell-side analysts anticipate that FibroBiologics will post -3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on FBLG. Deutsche Bank Aktiengesellschaft lowered shares of FibroBiologics to an “underperform” rating in a research note on Tuesday, August 4th. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective (down from $8.00) on shares of FibroBiologics in a report on Tuesday, August 4th. Wall Street Zen upgraded FibroBiologics from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings raised FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $73.00.

FibroBiologics Company Profile

FibroBiologics, Inc is a clinical-stage biotechnology company developing cell-based therapies for chronic diseases. The company’s research focuses on fibroblasts, a type of cell involved in tissue maintenance and repair, and the biologically active factors and extracellular vesicles that these cells produce.

FibroBiologics is developing a proprietary platform intended to generate therapeutic products from fibroblast-derived cells and their secretions. Its pipeline is aimed at conditions associated with tissue damage, inflammation, and impaired regeneration, including multiple sclerosis, psoriasis, and degenerative disc disease.