FibroBiologics Inc. (NASDAQ:FBLG) Short Interest Down 47.8% in July

FibroBiologics Inc. (NASDAQ:FBLG) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 70,837 shares, a decrease of 47.8% from the June 30th total of 135,794 shares. Approximately 1.3% of the company’s stock are sold short. Based on an average daily trading volume, of 59,556 shares, the days-to-cover ratio is currently 1.2 days.

FibroBiologics Price Performance

NASDAQ:FBLG traded up $0.00 during trading hours on Wednesday, hitting $0.65. 56,933 shares of the company were exchanged, compared to its average volume of 252,359. The stock has a market capitalization of $3.96 million, a price-to-earnings ratio of -0.09 and a beta of 1.14. FibroBiologics has a 52-week low of $0.62 and a 52-week high of $13.16. The company’s 50 day moving average price is $0.89 and its 200-day moving average price is $3.11.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($1.33) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.33). On average, equities analysts predict that FibroBiologics will post -4.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FBLG shares. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective (up from $4.00) on shares of FibroBiologics in a research report on Thursday, April 16th. Weiss Ratings raised shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday. Maxim Group downgraded shares of FibroBiologics from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, FibroBiologics currently has a consensus rating of “Hold” and an average target price of $74.00.

Hedge Funds Weigh In On FibroBiologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBLG. Landscape Capital Management L.L.C. purchased a new stake in FibroBiologics during the 3rd quarter valued at about $191,000. Cerity Partners LLC increased its holdings in shares of FibroBiologics by 37.2% in the second quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock valued at $80,000 after purchasing an additional 34,702 shares during the period. Geode Capital Management LLC raised its stake in shares of FibroBiologics by 20.7% in the fourth quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock worth $78,000 after purchasing an additional 59,813 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of FibroBiologics during the second quarter worth about $60,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of FibroBiologics by 287.3% during the fourth quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock worth $52,000 after purchasing an additional 171,800 shares during the period.

FibroBiologics Company Profile

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.