FibroBiologics Inc. (NASDAQ:FBLG) Receives Average Rating of “Reduce” from Brokerages

FibroBiologics Inc. (NASDAQ:FBLG) has been given a consensus recommendation of “Reduce” by the five brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $74.00.

Several research analysts have recently issued reports on the stock. Maxim Group cut shares of FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target (down from $8.00) on shares of FibroBiologics in a report on Tuesday. Wall Street Zen raised shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings upgraded shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft cut shares of FibroBiologics to an “underperform” rating in a research report on Tuesday.

FibroBiologics Trading Up 12.9%

NASDAQ FBLG opened at $0.79 on Tuesday. The firm has a market cap of $4.81 million, a PE ratio of -0.15 and a beta of 1.20. FibroBiologics has a 1-year low of $0.62 and a 1-year high of $13.00. The stock has a 50-day moving average of $0.87 and a 200-day moving average of $2.93.

FibroBiologics (NASDAQ:FBLG) last announced 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, equities research analysts forecast that FibroBiologics will post -4.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FibroBiologics

Several hedge funds have recently made changes to their positions in the business. Landscape Capital Management L.L.C. bought a new position in FibroBiologics in the 3rd quarter worth $191,000. Geode Capital Management LLC grew its holdings in shares of FibroBiologics by 20.7% during the 4th quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock worth $78,000 after acquiring an additional 59,813 shares during the period. Renaissance Technologies LLC raised its position in shares of 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 acquiring an additional 171,800 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of FibroBiologics in the 4th quarter valued at approximately $34,000. Finally, AMG National Trust Bank bought a new stake in shares of FibroBiologics during the fourth quarter valued at approximately $31,000.

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.