FibroBiologics (NASDAQ:FBLG) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

FibroBiologics (NASDAQ:FBLG) announced its quarterly earnings results on Monday. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01, Zacks reports.

FibroBiologics Price Performance

Shares of NASDAQ:FBLG traded up $0.03 during trading on Wednesday, reaching $0.89. The company had a trading volume of 22,039 shares, compared to its average volume of 275,434. The company has a fifty day moving average of $1.28 and a two-hundred day moving average of $2.14. FibroBiologics has a 12 month low of $0.86 and a 12 month high of $13.59.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Rodman & Renshaw assumed coverage on shares of FibroBiologics in a report on Thursday, December 12th. They set a “buy” rating and a $12.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of FibroBiologics in a research note on Tuesday. Finally, D. Boral Capital restated a “buy” rating and issued a $16.00 target price on shares of FibroBiologics in a research note on Tuesday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $13.00.

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.