HC Wainwright Reaffirms “Buy” Rating for FibroBiologics (NASDAQ:FBLG)

FibroBiologics (NASDAQ:FBLG)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $10.00 target price on the stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and issued a $16.00 price objective on shares of FibroBiologics in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.50.

FibroBiologics Price Performance

NASDAQ:FBLG opened at $0.54 on Friday. FibroBiologics has a 1 year low of $0.53 and a 1 year high of $4.14. The stock’s 50 day simple moving average is $0.61 and its two-hundred day simple moving average is $0.82. The company has a market cap of $22.74 million, a price-to-earnings ratio of -1.51 and a beta of -0.73.

FibroBiologics (NASDAQ:FBLG) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). As a group, analysts anticipate that FibroBiologics will post -0.53 EPS for the current year.

Hedge Funds Weigh In On FibroBiologics

Several large investors have recently modified their holdings of FBLG. AQR Capital Management LLC bought a new position in shares of FibroBiologics during the 1st quarter valued at approximately $29,000. XTX Topco Ltd boosted its holdings in FibroBiologics by 160.0% during the 2nd quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock valued at $29,000 after acquiring an additional 28,276 shares during the period. Ethos Financial Group LLC boosted its holdings in FibroBiologics by 100.0% during the 2nd quarter. Ethos Financial Group LLC now owns 48,848 shares of the company’s stock valued at $30,000 after acquiring an additional 24,424 shares during the period. Nuveen LLC purchased a new position in FibroBiologics during the 1st quarter valued at $31,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in FibroBiologics during the 2nd quarter valued at $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.