Bone Biologics Corp. (NASDAQ:BBLG) Sees Significant Drop in Short Interest

Bone Biologics Corp. (NASDAQ:BBLG) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 22,777 shares, a decline of 54.0% from the September 30th total of 49,512 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 41,660 shares, the short-interest ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Bone Biologics in a report on Thursday, October 22nd. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Bone Biologics Stock Down 3.7%

NASDAQ:BBLG traded down $0.01 during trading hours on Friday, reaching $0.37. The company had a trading volume of 12,575 shares, compared to its average volume of 143,626. Bone Biologics has a twelve month low of $0.36 and a twelve month high of $2.39. The firm has a market cap of $1.27 million, a price-to-earnings ratio of -0.32 and a beta of 0.90. The business’s 50-day simple moving average is $0.50 and its two-hundred day simple moving average is $1.07.

Bone Biologics (NASDAQ:BBLG) last released its quarterly earnings data on Monday, October 26th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. As a group, equities analysts predict that Bone Biologics will post -1.23 earnings per share for the current year.

About Bone Biologics

Bone Biologics Corporation is a biotechnology and medical device company focused on developing regenerative products for bone repair and spinal fusion. Its technology platform is based on NELL-1, a recombinant human protein designed to stimulate bone growth and support the formation of new bone.

The company’s lead development programs combine NELL-1 with resorbable bone-graft scaffolds for use in orthopedic and spinal procedures. These products are intended to provide surgeons with alternatives or supplements to conventional bone-grafting approaches, with an initial emphasis on spinal fusion applications.

Bone Biologics has conducted its research and development activities in collaboration with academic and medical institutions, including researchers associated with the University of California, Los Angeles.