FibroBiologics Inc. (NASDAQ:FBLG) Receives Consensus Rating of “Reduce” from Brokerages

FibroBiologics Inc. (NASDAQ:FBLG) has received a consensus recommendation of “Reduce” from the five research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $73.00.

FBLG has been the topic of a number of research reports. Weiss Ratings lowered shares of FibroBiologics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, August 20th. Wall Street Zen raised shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Deutsche Bank Aktiengesellschaft lowered FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 price objective (down from $8.00) on shares of FibroBiologics in a research note on Tuesday, August 4th.

Hedge Funds Weigh In On FibroBiologics

A number of hedge funds and other institutional investors have recently made changes to their positions in FBLG. Landscape Capital Management L.L.C. purchased a new position in shares of FibroBiologics during the third quarter valued at $191,000. Cerity Partners LLC lifted its stake in 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. Geode Capital Management LLC grew its holdings in FibroBiologics by 20.7% during the 4th quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock worth $78,000 after acquiring an additional 59,813 shares in the last quarter. Jane Street Group LLC bought a new position in FibroBiologics during the 2nd quarter worth about $60,000. Finally, Renaissance Technologies LLC increased its position in FibroBiologics by 287.3% during the 4th quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock valued at $52,000 after purchasing an additional 171,800 shares during the period.

FibroBiologics Trading Up 2.8%

NASDAQ:FBLG opened at $1.81 on Friday. The company has a market cap of $12.05 million, a price-to-earnings ratio of -0.35 and a beta of 1.65. FibroBiologics has a twelve month low of $0.62 and a twelve month high of $12.40. The stock has a fifty day simple moving average of $1.05 and a 200-day simple moving average of $2.14.

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

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.