FibroBiologics (NASDAQ:FBLG) General Counsel Ruben Garcia Buys 40,000 Shares

FibroBiologics Inc. (NASDAQ:FBLG) General Counsel Ruben Garcia bought 40,000 shares of FibroBiologics stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $0.33 per share, with a total value of $13,200.00. Following the completion of the acquisition, the general counsel directly owned 180,000 shares in the company, valued at $59,400. This represents a 28.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

FibroBiologics Stock Up 15.0%

NASDAQ:FBLG traded up $0.05 during trading hours on Monday, hitting $0.38. 1,698,206 shares of the stock traded hands, compared to its average volume of 1,310,852. The company has a market cap of $25.55 million, a price-to-earnings ratio of -0.90 and a beta of -0.69. FibroBiologics Inc. has a 1 year low of $0.22 and a 1 year high of $1.53. The stock has a 50 day moving average price of $0.29 and a 200 day moving average price of $0.39.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. Equities analysts forecast that FibroBiologics Inc. will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FibroBiologics

Several institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in FibroBiologics during the first quarter valued at approximately $29,000. Y Intercept Hong Kong Ltd purchased a new stake in FibroBiologics during the 2nd quarter valued at $37,000. Ethos Financial Group LLC lifted its position in FibroBiologics by 100.0% in the second 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 last quarter. Cascade Financial Partners LLC lifted its position in FibroBiologics by 11.7% in the second 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 last quarter. Finally, XTX Topco Ltd boosted its stake in FibroBiologics by 160.0% during the second quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock worth $29,000 after buying an additional 28,276 shares during the period.

Analyst Ratings Changes

Several research firms recently issued reports on FBLG. D. Boral Capital cut their target price on FibroBiologics from $15.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of FibroBiologics in a report on Thursday, January 22nd. Finally, HC Wainwright cut their target price on shares of FibroBiologics to $4.00 and set a “buy” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $5.50.

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.