FibroBiologics Inc. (NASDAQ:FBLG) Sees Significant Growth in Short Interest

FibroBiologics Inc. (NASDAQ:FBLG) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 413,742 shares, an increase of 192.0% from the August 15th total of 141,714 shares. Based on an average trading volume of 294,961 shares, the short-interest ratio is presently 1.4 days. Approximately 6.7% of the shares of the stock are short sold.

FibroBiologics Price Performance

FibroBiologics stock traded down $0.06 during trading hours on Monday, reaching $1.55. The company had a trading volume of 173,497 shares, compared to its average volume of 260,330. The firm has a market cap of $10.32 million, a price-to-earnings ratio of -0.30 and a beta of 1.65. FibroBiologics has a 12-month low of $0.62 and a 12-month high of $12.40. The company has a 50-day moving average price of $1.13 and a 200 day moving average price of $2.01.

FibroBiologics (NASDAQ:FBLG) last issued its earnings results on Friday, July 31st. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.93) by $0.27. As a group, research analysts expect that FibroBiologics will post -3 earnings per share for the current year.

Wall Street Analyst Weigh In

FBLG has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $6.00 price objective (down from $8.00) on shares of FibroBiologics in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft downgraded shares of FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. Wall Street Zen raised FibroBiologics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings raised FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $73.00.

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.