FibroBiologics (NASDAQ:FBLG) Announces Quarterly Earnings Results

FibroBiologics (NASDAQ:FBLG) posted its quarterly earnings data on Tuesday. The company reported ($0.03) earnings per share (EPS) for the quarter, FiscalAI reports.

FibroBiologics Stock Up 5.7%

FibroBiologics stock traded up $0.01 during mid-day trading on Tuesday, hitting $0.27. The company’s stock had a trading volume of 575,271 shares, compared to its average volume of 1,296,542. The stock has a market capitalization of $17.79 million, a P/E ratio of -0.56 and a beta of -0.62. FibroBiologics has a twelve month low of $0.22 and a twelve month high of $1.53. The stock’s fifty day moving average price is $0.29 and its two-hundred day moving average price is $0.40.

Insider Activity at FibroBiologics

In related news, General Counsel Ruben A. Garcia acquired 140,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $0.34 per share, for a total transaction of $47,600.00. Following the acquisition, the general counsel owned 140,000 shares in the company, valued at approximately $47,600. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FibroBiologics

A number of large investors have recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in FibroBiologics during the first quarter worth approximately $29,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of FibroBiologics in the second quarter worth $37,000. Ethos Financial Group LLC boosted its holdings 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 worth $30,000 after buying an additional 24,424 shares during the period. Cascade Financial Partners LLC boosted its holdings in shares of FibroBiologics by 11.7% during the 2nd quarter. Cascade Financial Partners LLC now owns 290,581 shares of the company’s stock worth $181,000 after buying an additional 30,500 shares during the period. Finally, XTX Topco Ltd grew its stake in FibroBiologics by 160.0% in the 2nd quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock valued at $29,000 after buying an additional 28,276 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on FBLG. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FibroBiologics in a report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of FibroBiologics in a research report on Friday, January 2nd. Finally, D. Boral Capital reissued a “buy” rating and issued a $15.00 price objective on shares of FibroBiologics in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.00.

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.