FibroBiologics (NASDAQ:FBLG) Shares Down 1.6% – Here’s Why

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

Analyst Upgrades and Downgrades

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

FibroBiologics Trading Down 1.6%

The stock has a market capitalization of $24.62 million, a P/E ratio of -0.77 and a beta of -0.54. The company has a fifty day simple moving average of $0.29 and a two-hundred day simple moving average of $0.45.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly 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). As a group, analysts forecast 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 acquired 140,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was acquired at an average cost of $0.34 per share, with a total value of $47,600.00. Following the completion of the purchase, the general counsel directly owned 140,000 shares in the company, valued at approximately $47,600. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.00% of the stock is owned by corporate insiders.

Institutional Trading of FibroBiologics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ethos Financial Group LLC boosted its stake in FibroBiologics by 100.0% during the 2nd quarter. Ethos Financial Group LLC now owns 48,848 shares of the company’s stock worth $30,000 after acquiring an additional 24,424 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of FibroBiologics by 160.0% in the 2nd 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 during the period. Cascade Financial Partners LLC increased its position in shares of FibroBiologics by 11.7% in the 2nd 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. AQR Capital Management LLC bought a new stake in shares of FibroBiologics in the 1st quarter valued at $29,000. Finally, Cerity Partners LLC raised its stake in FibroBiologics by 37.2% during the 2nd quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock worth $80,000 after buying an additional 34,702 shares during the period.

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.