FibroBiologics (NASDAQ:FBLG) Trading Down 10.8% – Should You Sell?

FibroBiologics Inc. (NASDAQ:FBLG)’s share price fell 10.8% during mid-day trading on Tuesday . The stock traded as low as $0.52 and last traded at $0.55. 3,125,734 shares changed hands during mid-day trading, an increase of 459% from the average session volume of 558,797 shares. The stock had previously closed at $0.61.

Analysts Set New Price Targets

Several research firms recently commented on FBLG. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of FibroBiologics in a research note on Friday, September 12th. D. Boral Capital reissued a “buy” rating and issued a $16.00 price target on shares of FibroBiologics in a research report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, FibroBiologics presently has an average rating of “Buy” and a consensus target price of $12.67.

FibroBiologics Stock Performance

The business’s 50-day simple moving average is $0.58 and its 200 day simple moving average is $0.77. The firm has a market cap of $22.88 million, a P/E ratio of -1.52 and a beta of -0.73.

FibroBiologics (NASDAQ:FBLG) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). As a group, equities research analysts expect that FibroBiologics Inc. will post -0.53 EPS for the current year.

Institutional Investors Weigh In On FibroBiologics

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC lifted 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 valued at $122,000 after purchasing an additional 49,222 shares in the last quarter. Cerity Partners LLC increased its holdings in FibroBiologics by 19.6% in the 1st quarter. Cerity Partners LLC now owns 93,407 shares of the company’s stock worth $84,000 after acquiring an additional 15,306 shares in the last quarter. Nuveen LLC bought a new position in shares of FibroBiologics in the first quarter worth approximately $31,000. AQR Capital Management LLC purchased a new stake in shares of FibroBiologics in the first quarter worth $29,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of FibroBiologics in the second quarter worth $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.