FibroBiologics Inc. (NASDAQ:FBLG) Stock Has Average Target Price of $73.00 According to Analysts

FibroBiologics Inc. (NASDAQ:FBLG) has been given a consensus rating of “Reduce” by the five brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $73.00.

A number of research analysts have recently issued reports on FBLG shares. Deutsche Bank lowered shares of FibroBiologics to an “underperform” rating in a research note on Tuesday, August 4th. Weiss Ratings raised FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, September 4th. Wall Street Zen raised FibroBiologics to a “hold” rating in a report on Saturday, October 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 target price (down from $8.00) on shares of FibroBiologics in a research report on Tuesday, August 4th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in FibroBiologics stock. IFP Advisors Inc acquired a new position in shares of FibroBiologics Inc. (NASDAQ:FBLG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,000 shares of the company’s stock, valued at approximately $35,000. IFP Advisors Inc owned approximately 0.41% of FibroBiologics at the end of the most recent reporting period.

FibroBiologics Stock Performance

FBLG stock opened at $1.00 on Thursday. FibroBiologics has a one year low of $0.62 and a one year high of $9.60. The stock has a market capitalization of $6.63 million, a PE ratio of -0.19 and a beta of 1.81. The company has a fifty day moving average of $1.21 and a 200-day moving average of $2.20.

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.