FibroBiologics Inc. (NASDAQ:FBLG) Given Average Rating of “Reduce” by Brokerages

Shares of FibroBiologics Inc. (NASDAQ:FBLG) have been given a consensus recommendation of “Reduce” by the five research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $73.00.

Several analysts have issued reports on the stock. Wall Street Zen raised shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings cut FibroBiologics from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday, August 20th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of FibroBiologics in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft lowered FibroBiologics to an “underperform” rating in a research note on Tuesday, August 4th. Finally, Maxim Group cut FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th.

Institutional Trading of FibroBiologics

Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new stake in shares of FibroBiologics during the first quarter valued at $29,000. XTX Topco Ltd grew its holdings in shares of FibroBiologics by 160.0% in the second quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock worth $29,000 after purchasing an additional 28,276 shares during the last quarter. Jane Street Group LLC purchased a new position in FibroBiologics in the 4th quarter worth about $34,000. Marshall Wace LLP purchased a new position in FibroBiologics in the 2nd quarter worth about $49,000. Finally, Renaissance Technologies LLC increased 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 buying an additional 171,800 shares during the period.

FibroBiologics Trading Down 3.4%

FibroBiologics stock opened at $1.44 on Friday. The firm has a 50-day moving average price of $0.94 and a 200-day moving average price of $2.26. The firm has a market capitalization of $9.59 million, a PE ratio of -0.28 and a beta of 1.20. FibroBiologics has a 12-month low of $0.62 and a 12-month high of $12.80.

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

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.