FibroBiologics (NASDAQ:FBLG) Announces Earnings Results

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

FibroBiologics Price Performance

FBLG traded down $0.02 during trading on Friday, hitting $0.70. 105,497 shares of the stock traded hands, compared to its average volume of 250,685. The business has a 50 day moving average price of $0.88 and a 200 day moving average price of $3.02. The company 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 twelve month low of $0.62 and a twelve month high of $13.16.

Institutional Trading of FibroBiologics

Several large investors have recently bought and sold shares of the business. XTX Topco Ltd boosted its stake in shares of FibroBiologics by 160.0% in the 2nd quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock valued at $29,000 after purchasing an additional 28,276 shares in the last quarter. AQR Capital Management LLC acquired a new position in FibroBiologics during the 1st quarter worth approximately $29,000. Cerity Partners LLC lifted its stake in 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 purchasing an additional 34,702 shares during the last quarter. Geode Capital Management LLC lifted its stake in FibroBiologics by 20.7% in the 4th quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock valued at $78,000 after purchasing an additional 59,813 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in FibroBiologics in the second quarter valued at approximately $49,000.

Analyst Ratings Changes

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

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.