FibroBiologics (NASDAQ:FBLG) Shares Up 5.7% – Should You Buy?

FibroBiologics Inc. (NASDAQ:FBLG) was up 5.7% during trading on Wednesday . The stock traded as high as $1.12 and last traded at $1.12. Approximately 104,970 shares were traded during trading, a decline of 71% from the average daily volume of 359,692 shares. The stock had previously closed at $1.06.

Analysts Set New Price Targets

Several equities research analysts have commented on FBLG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FibroBiologics in a report on Tuesday, April 21st. Wall Street Zen raised shares of FibroBiologics to a “sell” rating in a report on Saturday, April 4th. D. Boral Capital reissued a “hold” rating on shares of FibroBiologics in a report on Thursday, March 26th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target (up from $4.00) on shares of FibroBiologics in a report on Thursday, April 16th. Finally, Maxim Group downgraded shares of FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, FibroBiologics currently has an average rating of “Hold” and a consensus target price of $74.00.

FibroBiologics Price Performance

The stock has a market capitalization of $5.84 million, a PE ratio of -0.16 and a beta of 1.16. The business’s fifty day moving average price is $1.97 and its 200-day moving average price is $4.62.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($1.33) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.33). On average, analysts expect that FibroBiologics Inc. will post -4.41 earnings per share for the current fiscal year.

Insider Buying and Selling at FibroBiologics

In related news, CFO Jason Davis acquired 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average cost of $8.20 per share, for a total transaction of $28,700.00. Following the completion of the transaction, the chief financial officer owned 3,500 shares in the company, valued at approximately $28,700. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 9,574 shares of company stock valued at $72,886 in the last quarter. 9.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new position in shares of FibroBiologics in the first quarter worth approximately $29,000. XTX Topco Ltd increased its position in shares of FibroBiologics by 160.0% in the second quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock worth $29,000 after purchasing an additional 28,276 shares during the last quarter. AMG National Trust Bank bought a new position in shares of FibroBiologics in the fourth quarter worth approximately $31,000. Jane Street Group LLC bought a new position in shares of FibroBiologics in the fourth quarter worth approximately $34,000. Finally, Marshall Wace LLP bought a new position in shares of FibroBiologics in the second quarter worth approximately $49,000.

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.