FibroBiologics (NASDAQ:FBLG) Shares Up 5.4% – Still a Buy?

FibroBiologics Inc. (NASDAQ:FBLG)’s share price rose 5.4% on Thursday . The stock traded as high as $0.8888 and last traded at $0.8610. 71,309 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 176,059 shares. The stock had previously closed at $0.8168.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FBLG. Maxim Group downgraded FibroBiologics from a “buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings downgraded FibroBiologics from a “sell (e+)” rating to a “sell (e)” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and set a $8.00 target price (up from $4.00) on shares of FibroBiologics in a research report on Thursday, April 16th. D. Boral Capital reissued a “hold” rating on shares of FibroBiologics in a research note on Thursday, March 26th. Finally, Wall Street Zen raised shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, FibroBiologics has an average rating of “Hold” and an average target price of $74.00.

FibroBiologics Stock Up 5.4%

The firm has a market cap of $4.48 million, a PE ratio of -0.12 and a beta of 1.14. The firm has a 50-day moving average price of $0.99 and a two-hundred day moving average price of $3.50.

FibroBiologics (NASDAQ:FBLG) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($1.33) EPS for the quarter, hitting the consensus estimate of ($1.33). Research analysts forecast that FibroBiologics Inc. will post -4.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FibroBiologics

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in shares of FibroBiologics in the fourth quarter valued at about $34,000. Renaissance Technologies LLC boosted its position in FibroBiologics by 287.3% during the fourth quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock worth $52,000 after acquiring an additional 171,800 shares during the last quarter. Geode Capital Management LLC boosted its position in FibroBiologics by 20.7% during the fourth quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock worth $78,000 after acquiring an additional 59,813 shares during the last quarter. AMG National Trust Bank purchased a new stake in FibroBiologics during the 4th quarter valued at about $31,000. Finally, Yorkville Advisors Global LP purchased a new stake in FibroBiologics during the 3rd quarter valued at about $278,000.

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. FibroBiologics, Inc was incorporated in 2021 and is based in Houston, Texas.