FibroBiologics Inc. (NASDAQ:FBLG) Sees Large Increase in Short Interest
by Mitch Edgeman · The Markets DailyFibroBiologics Inc. (NASDAQ:FBLG – Get Free Report) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 873,527 shares, a growth of 30.1% from the February 26th total of 671,279 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average trading volume of 1,498,900 shares, the days-to-cover ratio is currently 0.6 days.
FibroBiologics Stock Down 10.6%
Shares of NASDAQ FBLG traded down $0.02 during trading hours on Friday, hitting $0.20. The company had a trading volume of 1,535,568 shares, compared to its average volume of 1,328,190. The stock has a market capitalization of $13.81 million, a P/E ratio of -0.47 and a beta of -0.69. FibroBiologics has a 1-year low of $0.19 and a 1-year high of $1.53. The firm’s 50 day moving average is $6.02 and its 200-day moving average is $7.00.
Shares of FibroBiologics are going to reverse split on Monday, March 30th. The 1-20 reverse split was announced on Wednesday, March 25th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, March 27th.
FibroBiologics (NASDAQ:FBLG – Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.80) by $1.20. On average, sell-side analysts predict that FibroBiologics will post -0.53 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on FBLG shares. HC Wainwright lowered their price target on shares of FibroBiologics to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (e+)” rating on shares of FibroBiologics in a research note on Thursday, January 22nd. Finally, D. Boral Capital reaffirmed a “hold” rating on shares of FibroBiologics in a research report on Thursday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $110.00.
View Our Latest Analysis on FBLG
Insider Activity
In other FibroBiologics news, CFO Jason Davis acquired 3,500 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were acquired at an average price of $8.20 per share, with a total value of $28,700.00. Following the completion of the transaction, the chief financial officer directly owned 3,500 shares in the company, valued at $28,700. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 9,574 shares of company stock valued at $72,886 in the last 90 days. 13.00% of the stock is owned by company insiders.
Institutional Investors Weigh In On FibroBiologics
A number of institutional investors and hedge funds have recently modified their holdings of FBLG. AQR Capital Management LLC acquired a new stake in FibroBiologics in the 1st quarter valued at about $29,000. XTX Topco Ltd increased its position 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 last quarter. Marshall Wace LLP bought a new stake in FibroBiologics in the second quarter valued at approximately $49,000. Jane Street Group LLC bought a new stake in FibroBiologics in the second quarter valued at approximately $60,000. Finally, Cerity Partners LLC lifted its position in shares of FibroBiologics by 37.2% in the second quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock valued at $80,000 after buying an additional 34,702 shares during the last quarter.
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.