FibroBiologics (NASDAQ:FBLG) Announces Quarterly Earnings Results

FibroBiologics (NASDAQ:FBLG) released its quarterly earnings results on Friday. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.27, FiscalAI reports.

FibroBiologics Stock Performance

Shares of FBLG opened at $0.70 on Friday. The firm has a market cap of $4.26 million, a price-to-earnings ratio of -0.10 and a beta of 1.14. FibroBiologics has a fifty-two week low of $0.62 and a fifty-two week high of $13.16. The firm has a 50 day moving average price of $0.87 and a 200-day moving average price of $3.01.

Hedge Funds Weigh In On FibroBiologics

A number of large investors have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. bought a new stake in FibroBiologics in the third quarter worth $191,000. Geode Capital Management LLC grew its stake in shares of FibroBiologics by 20.7% during the fourth quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock valued at $78,000 after buying an additional 59,813 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of FibroBiologics by 287.3% in the fourth 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. Jane Street Group LLC bought a new stake in shares of FibroBiologics in the 4th quarter valued at about $34,000. Finally, Cerity Partners LLC lifted its stake in shares of FibroBiologics by 37.2% in the 2nd quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock valued at $80,000 after acquiring an additional 34,702 shares during the last quarter.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, July 24th. Maxim Group cut FibroBiologics from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen upgraded FibroBiologics from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 price target (up from $4.00) on shares of FibroBiologics in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.00.

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. FibroBiologics, Inc was incorporated in 2021 and is based in Houston, Texas.