FibroBiologics (NASDAQ:FBLG) Shares Down 1.6% – What’s Next?

FibroBiologics Inc. (NASDAQ:FBLG) shares were down 1.6% during mid-day trading on Tuesday . The company traded as low as $0.36 and last traded at $0.3701. Approximately 527,262 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 2,713,055 shares. The stock had previously closed at $0.3760.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FBLG shares. D. Boral Capital reissued a “buy” rating and issued a $15.00 price objective on shares of FibroBiologics in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of FibroBiologics in a research note on Thursday, January 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of FibroBiologics in a research report on Friday, January 2nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.00.

FibroBiologics Stock Performance

The business’s 50 day moving average price is $0.29 and its 200-day moving average price is $0.45. The company has a market cap of $24.62 million, a price-to-earnings ratio of -0.77 and a beta of -0.54.

FibroBiologics (NASDAQ:FBLG) last posted its earnings results on Friday, October 31st. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). On average, equities research analysts expect that FibroBiologics Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Ruben A. Garcia bought 140,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was acquired at an average price of $0.34 per share, for a total transaction of $47,600.00. Following the transaction, the general counsel directly owned 140,000 shares of the company’s stock, valued at $47,600. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC bought a new position in shares of FibroBiologics during the first quarter valued at $29,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of FibroBiologics during the 2nd quarter worth about $37,000. Ethos Financial Group LLC lifted 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 purchasing an additional 24,424 shares during the last quarter. Cascade Financial Partners LLC boosted its position in FibroBiologics by 11.7% in the second quarter. Cascade Financial Partners LLC now owns 290,581 shares of the company’s stock valued at $181,000 after buying an additional 30,500 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in FibroBiologics by 160.0% in the second quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock valued at $29,000 after buying an additional 28,276 shares in the last quarter.

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.