Short Interest in FibroBiologics Inc. (NASDAQ:FBLG) Drops By 76.0%
by Tristan Rich · The Markets DailyFibroBiologics Inc. (NASDAQ:FBLG – Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 209,586 shares, a decrease of 76.0% from the March 15th total of 873,527 shares. Currently, 6.9% of the company’s shares are sold short. Based on an average daily volume of 828,169 shares, the days-to-cover ratio is presently 0.3 days.
Analysts Set New Price Targets
FBLG has been the subject of several research analyst reports. HC Wainwright dropped their price target on shares of FibroBiologics to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of FibroBiologics in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of FibroBiologics to a “sell” rating in a report on Saturday, April 4th. Finally, D. Boral Capital reiterated a “hold” rating on shares of FibroBiologics in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, FibroBiologics presently has a consensus rating of “Hold” and a consensus target price of $110.00.
Check Out Our Latest Research Report on FBLG
Insiders Place Their Bets
In other FibroBiologics news, CFO Jason Davis purchased 3,500 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were purchased at an average cost of $8.20 per share, with a total value of $28,700.00. Following the purchase, the chief financial officer owned 3,500 shares in the company, valued at approximately $28,700. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders bought 9,574 shares of company stock worth $72,886 in the last quarter. Corporate insiders own 13.00% of the company’s stock.
Institutional Trading of FibroBiologics
Several large investors have recently bought and sold shares of the company. Yorkville Advisors Global LP acquired a new position in shares of FibroBiologics in the 3rd quarter valued at approximately $278,000. Landscape Capital Management L.L.C. acquired a new position in shares of FibroBiologics in the 3rd quarter valued at approximately $191,000. Geode Capital Management LLC raised its position in shares of FibroBiologics by 20.7% in the 4th quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock valued at $78,000 after purchasing an additional 59,813 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of FibroBiologics by 287.3% in 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 in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of FibroBiologics in the 4th quarter valued at approximately $34,000.
FibroBiologics Stock Down 2.2%
Shares of NASDAQ FBLG traded down $0.03 during midday trading on Friday, hitting $1.35. The stock had a trading volume of 345,622 shares, compared to its average volume of 835,029. The company has a market capitalization of $4.74 million, a price-to-earnings ratio of -0.16 and a beta of 1.07. FibroBiologics has a 1-year low of $1.03 and a 1-year high of $30.60. The company has a fifty day moving average price of $4.91 and a 200 day moving average price of $6.38.
FibroBiologics (NASDAQ:FBLG – Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.06. On average, research analysts forecast that FibroBiologics will post -0.53 EPS for the current year.
About FibroBiologics
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.