Bone Biologics (NASDAQ:BBLG) Trading 3% Higher – Still a Buy?

Shares of Bone Biologics Corp. (NASDAQ:BBLG) were up 3% during mid-day trading on Thursday . The company traded as high as $1.39 and last traded at $1.38. 33,393 shares changed hands during trading, a decline of 77% from the average daily volume of 142,839 shares. The stock had previously closed at $1.34.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Bone Biologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Bone Biologics Price Performance

The firm has a market cap of $2.48 million, a PE ratio of -0.61 and a beta of 0.90. The business’s 50 day moving average price is $1.32 and its 200 day moving average price is $1.37.

Bone Biologics (NASDAQ:BBLG) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.43) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.43). As a group, analysts predict that Bone Biologics Corp. will post -1.52 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Bone Biologics stock. DRW Securities LLC increased its position in shares of Bone Biologics Corp. (NASDAQ:BBLG) by 113.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,576 shares of the company’s stock after acquiring an additional 12,549 shares during the quarter. DRW Securities LLC owned approximately 1.31% of Bone Biologics worth $34,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 34.30% of the company’s stock.

About Bone Biologics

Bone Biologics, Inc (NASDAQ: BBLG) is a clinical-stage biotechnology company focused on the development of cell-based therapies for skeletal repair and regeneration. The company’s research efforts center on both allogeneic and autologous mesenchymal cell platforms designed to enhance bone healing in patients with orthopedic injuries and degenerative bone conditions. Its approach aims to provide alternatives to traditional grafting procedures by harnessing the regenerative potential of specialized stem cells.

Leveraging proprietary cell expansion and delivery technologies, Bone Biologics is advancing a pipeline of investigational therapies targeting indications such as spinal fusion, long-bone non-union and maxillofacial defects.