FibroBiologics, Inc. (NASDAQ:FBLG) Receives Consensus Rating of “Buy” from Brokerages

FibroBiologics, Inc. (NASDAQ:FBLG) has earned an average rating of “Buy” from the five research firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $13.00.

Several analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of FibroBiologics in a research note on Tuesday, April 1st. D. Boral Capital restated a “buy” rating and set a $16.00 target price on shares of FibroBiologics in a research report on Thursday, May 15th.

FibroBiologics Stock Down 7.3%

Shares of FBLG stock opened at $0.81 on Monday. The stock has a market cap of $30.94 million, a P/E ratio of -3.85 and a beta of -0.80. FibroBiologics has a 52 week low of $0.70 and a 52 week high of $7.57. The company’s fifty day simple moving average is $0.94 and its two-hundred day simple moving average is $1.39.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.04). On average, analysts anticipate that FibroBiologics will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On FibroBiologics

Hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in FibroBiologics during the 4th quarter valued at about $25,000. AQR Capital Management LLC bought a new position in FibroBiologics during the 1st quarter valued at about $29,000. Virtu Financial LLC bought a new position in FibroBiologics during the 4th quarter valued at about $30,000. Nuveen LLC bought a new position in FibroBiologics during the 1st quarter valued at about $31,000. Finally, Raymond James Financial Inc. bought a new position in FibroBiologics during the 4th quarter valued at about $37,000.

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.