FibroBiologics Inc. (NASDAQ:FBLG) Given Average Recommendation of “Buy” by Brokerages

Shares of FibroBiologics Inc. (NASDAQ:FBLG) have been assigned a consensus rating of “Buy” from the five analysts that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $13.00.

Several equities analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price (up from $10.00) on shares of FibroBiologics in a research note on Tuesday, August 5th. D. Boral Capital reiterated a “buy” rating and issued a $16.00 target price on shares of FibroBiologics in a research note on Monday, August 4th.

FibroBiologics Price Performance

FBLG opened at $0.59 on Friday. The firm has a fifty day moving average price of $0.63 and a 200 day moving average price of $0.87. FibroBiologics has a 1 year low of $0.53 and a 1 year high of $4.41. The stock has a market cap of $24.72 million, a P/E ratio of -1.64 and a beta of -0.74.

FibroBiologics (NASDAQ:FBLG) last posted its earnings results on Thursday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Equities analysts expect that FibroBiologics will post -0.53 EPS for the current year.

Hedge Funds Weigh In On FibroBiologics

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in FibroBiologics during the fourth quarter worth $37,000. Jane Street Group LLC raised its position in FibroBiologics by 415.3% during the fourth quarter. Jane Street Group LLC now owns 61,074 shares of the company’s stock worth $122,000 after acquiring an additional 49,222 shares during the period. Cerity Partners LLC raised its position in FibroBiologics by 37.2% during the second quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock worth $80,000 after acquiring an additional 34,702 shares during the period. Marshall Wace LLP acquired a new position in FibroBiologics during the second quarter worth $49,000. Finally, AQR Capital Management LLC acquired a new position in FibroBiologics during the first quarter worth $29,000.

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.