FibroBiologics Inc. (NASDAQ:FBLG) Stock Short Interest Report for October

FibroBiologics Inc. (NASDAQ:FBLG) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 330,551 shares, a drop of 36.7% from the September 30th total of 522,114 shares. Currently, 5.4% of the shares of the company are short sold. Based on an average daily volume of 140,541 shares, the short-interest ratio is presently 2.4 days.

Hedge Funds Weigh In On FibroBiologics

A hedge fund recently bought a new stake in FibroBiologics stock. IFP Advisors Inc purchased a new position in shares of FibroBiologics Inc. (NASDAQ:FBLG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 27,000 shares of the company’s stock, valued at approximately $35,000. IFP Advisors Inc owned 0.41% of FibroBiologics as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

FBLG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft downgraded FibroBiologics to an “underperform” rating in a research note on Tuesday, August 4th. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective (down from $8.00) on shares of FibroBiologics in a research report on Tuesday, August 4th. Wall Street Zen raised FibroBiologics to a “hold” rating in a report on Saturday, October 10th. Finally, Weiss Ratings upgraded shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, September 4th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $73.00.

FibroBiologics Stock Performance

Shares of FBLG traded up $0.01 during trading hours on Monday, reaching $0.94. The stock had a trading volume of 2,534 shares, compared to its average volume of 238,242. FibroBiologics has a 12 month low of $0.62 and a 12 month high of $9.60. The stock has a market capitalization of $6.23 million, a PE ratio of -0.18 and a beta of 1.82. The company’s 50-day moving average is $1.31 and its two-hundred day moving average is $2.43.

FibroBiologics (NASDAQ:FBLG) last issued its quarterly earnings data on Friday, July 31st. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.27. Equities analysts anticipate that FibroBiologics will post -3.00 earnings per share for the current fiscal year.

About FibroBiologics

FibroBiologics, Inc is a clinical-stage biotechnology company developing cell-based therapies for chronic diseases. Its research focuses on fibroblasts, connective-tissue cells that may support tissue repair and influence immune-system activity, as well as biologically active materials derived from these cells.

The company is developing a platform that includes fibroblast-based cell therapies and fibroblast-derived extracellular vesicles. These potential treatments are intended to address conditions involving chronic inflammation, immune dysfunction, and tissue damage.