FibroBiologics (NASDAQ:FBLG) Rating Increased to Sell at Wall Street Zen

FibroBiologics (NASDAQ:FBLG) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday.

A number of other equities analysts have also recently commented on the stock. Maxim Group cut shares of FibroBiologics from a “buy” rating to a “hold” rating in a research report on Monday, May 4th. HC Wainwright restated a “buy” rating and set a $8.00 price objective (up from $4.00) on shares of FibroBiologics in a research report on Thursday, April 16th. Weiss Ratings downgraded shares of FibroBiologics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday, June 1st. Finally, D. Boral Capital restated a “hold” rating on shares of FibroBiologics in a research report on Thursday, March 26th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.00.

FibroBiologics Stock Down 3.4%

Shares of NASDAQ FBLG opened at $0.93 on Friday. The business’s 50 day moving average price is $1.23 and its two-hundred day moving average price is $4.14. The company has a market cap of $4.85 million, a PE ratio of -0.13 and a beta of 1.13. FibroBiologics has a twelve month low of $0.91 and a twelve month high of $17.20.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($1.33) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.33). As a group, research analysts anticipate that FibroBiologics will post -4.01 EPS for the current fiscal year.

Institutional Investors Weigh In On FibroBiologics

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in shares of FibroBiologics in the first quarter valued at 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 period. Marshall Wace LLP bought a new position in shares of FibroBiologics in the second quarter worth $49,000. Jane Street Group LLC bought a new position in shares of FibroBiologics in the second quarter worth $60,000. Finally, Cerity Partners LLC increased its position in shares of FibroBiologics by 37.2% in the second quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock worth $80,000 after purchasing 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.