FibroBiologics Inc. (FBLG) – What Are Brokerages Saying About This Stock?

FibroBiologics Inc. (NASDAQ:FBLG) has received an average rating of “Reduce” from the five brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $73.00.

FBLG has been the topic of several recent research reports. Weiss Ratings raised shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, September 4th. Deutsche Bank Aktiengesellschaft lowered shares of FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. Wall Street Zen raised shares of FibroBiologics to a “hold” rating in a research report on Saturday, October 10th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of FibroBiologics in a research note on Tuesday, August 4th.

Institutional Investors Weigh In On FibroBiologics

A hedge fund recently bought a new position in FibroBiologics stock. IFP Advisors Inc purchased a new stake in FibroBiologics Inc. (NASDAQ:FBLG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,000 shares of the company’s stock, valued at approximately $35,000. IFP Advisors Inc owned approximately 0.41% of FibroBiologics at the end of the most recent reporting period.

FibroBiologics Stock Down 2.9%

FibroBiologics stock opened at $0.97 on Friday. FibroBiologics has a 52 week low of $0.62 and a 52 week high of $9.60. The business’s 50-day moving average price is $1.35 and its 200 day moving average price is $1.16. The firm has a market cap of $6.47 million, a price-to-earnings ratio of -0.19 and a beta of 1.72.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly earnings data on Friday, July 31st. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.93) by $0.27. Equities analysts expect that FibroBiologics will post -3.00 EPS for the current year.

FibroBiologics Company Profile

FibroBiologics, Inc (NASDAQ:FBLG) is a clinical-stage biotechnology company developing cell-based and cell-free therapies for chronic diseases. The company’s research centers on fibroblasts, a type of connective-tissue cell, and the biologically active materials they produce, including exosomes and other factors that may influence immune responses, tissue repair, and regeneration.

FibroBiologics is investigating its platform for potential applications in conditions such as psoriasis, multiple sclerosis, and degenerative disc disease.