FibroBiologics (NASDAQ:FBLG) Trading 5.4% Higher – Here’s What Happened

FibroBiologics Inc. (NASDAQ:FBLG)’s share price rose 5.4% during trading on Thursday . The stock traded as high as $0.8888 and last traded at $0.8610. Approximately 71,309 shares traded hands during trading, a decline of 59% from the average daily volume of 176,059 shares. The stock had previously closed at $0.8168.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings cut FibroBiologics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $8.00 target price (up from $4.00) on shares of FibroBiologics in a research report on Thursday, April 16th. Maxim Group downgraded FibroBiologics from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. D. Boral Capital reaffirmed a “hold” rating on shares of FibroBiologics in a research report on Thursday, March 26th. Finally, Wall Street Zen upgraded shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.00.

FibroBiologics Trading Up 6.5%

The firm has a market cap of $4.78 million, a PE ratio of -0.13 and a beta of 1.14. The stock has a 50 day simple moving average of $0.99 and a 200-day simple moving average of $3.48.

FibroBiologics (NASDAQ:FBLG) last issued its earnings results on Thursday, April 30th. The company reported ($1.33) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.33). On average, equities research analysts expect that FibroBiologics Inc. will post -4.01 EPS for the current year.

Hedge Funds Weigh In On FibroBiologics

Several institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in shares of FibroBiologics in the first quarter valued at $29,000. XTX Topco Ltd raised its position in FibroBiologics by 160.0% during the second 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 during the period. AMG National Trust Bank bought a new stake in shares of FibroBiologics in the 4th quarter valued at approximately $31,000. Jane Street Group LLC purchased a new position in FibroBiologics during the fourth quarter worth $34,000. Finally, Marshall Wace LLP purchased a new position in shares of FibroBiologics during the 2nd quarter worth about $49,000.

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.