FibroBiologics (NASDAQ:FBLG) Announces Earnings Results

FibroBiologics (NASDAQ:FBLG) issued its quarterly earnings data on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06, Zacks reports.

FibroBiologics Price Performance

NASDAQ FBLG traded up $0.03 during trading hours on Thursday, hitting $1.35. The company’s stock had a trading volume of 718,923 shares, compared to its average volume of 294,937. FibroBiologics has a 12 month low of $1.03 and a 12 month high of $30.60. The company’s 50 day simple moving average is $5.73 and its two-hundred day simple moving average is $6.81. The company has a market cap of $4.76 million, a P/E ratio of -0.16 and a beta of 1.10.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of FibroBiologics in a research report on Thursday, January 22nd. HC Wainwright decreased their price objective on FibroBiologics to $80.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, D. Boral Capital reissued 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, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, FibroBiologics currently has a consensus rating of “Hold” and a consensus target price of $110.00.

Insider Buying and Selling at FibroBiologics

In other news, CFO Jason Davis acquired 3,500 shares of FibroBiologics stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average price 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 $28,700. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 9,574 shares of company stock worth $72,886 over the last three months. 13.00% of the stock is owned by insiders.

Institutional Trading of FibroBiologics

Several hedge funds have recently bought and sold shares of the stock. Ethos Financial Group LLC lifted its stake in shares of FibroBiologics by 100.0% during the 2nd quarter. Ethos Financial Group LLC now owns 48,848 shares of the company’s stock valued at $30,000 after buying an additional 24,424 shares in the last quarter. XTX Topco Ltd increased its stake in FibroBiologics by 160.0% in the 2nd quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock worth $29,000 after buying an additional 28,276 shares in the last quarter. Cascade Financial Partners LLC raised its holdings in FibroBiologics by 11.7% during the second quarter. Cascade Financial Partners LLC now owns 290,581 shares of the company’s stock valued at $181,000 after acquiring an additional 30,500 shares during the period. AQR Capital Management LLC purchased a new position in shares of FibroBiologics in the first quarter valued at about $29,000. Finally, Cerity Partners LLC boosted its stake 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 acquiring 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.