FibroBiologics Inc. (NASDAQ:FBLG) Stock Short Interest Climbs 60.0%

FibroBiologics Inc. (NASDAQ:FBLG) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 661,912 shares, an increase of 60.0% from the August 31st total of 413,742 shares. Based on an average daily volume of 357,923 shares, the days-to-cover ratio is currently 1.8 days. Approximately 10.7% of the shares of the company are sold short.

FibroBiologics Price Performance

FBLG stock traded down $0.07 on Thursday, reaching $1.23. 96,522 shares of the company were exchanged, compared to its average volume of 251,867. The firm has a market capitalization of $8.19 million, a PE ratio of -0.24 and a beta of 1.65. FibroBiologics has a 12 month low of $0.62 and a 12 month high of $11.40. The stock’s fifty day moving average price is $1.28 and its 200 day moving average price is $1.48.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly earnings data on Friday, July 31st. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $0.27. As a group, research analysts expect that FibroBiologics will post -3 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft downgraded FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, September 4th. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price (down from $8.00) on shares of FibroBiologics in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $73.00.

FibroBiologics Company Profile

FibroBiologics, Inc is a clinical-stage biotechnology company developing cell-based therapies for chronic diseases. The company’s research focuses on fibroblasts, a type of cell involved in tissue maintenance and repair, and the biologically active factors and extracellular vesicles that these cells produce.

FibroBiologics is developing a proprietary platform intended to generate therapeutic products from fibroblast-derived cells and their secretions. Its pipeline is aimed at conditions associated with tissue damage, inflammation, and impaired regeneration, including multiple sclerosis, psoriasis, and degenerative disc disease.