FibroBiologics (NASDAQ:FBLG) Shares to Reverse Split on Monday, March 30th

Shares of FibroBiologics Inc. (NASDAQ:FBLG) are set to reverse split before the market opens 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 Stock Down 16.5%

FBLG stock traded down $0.04 during trading hours on Thursday, hitting $0.22. The company’s stock had a trading volume of 2,268,702 shares, compared to its average volume of 1,317,352. The stock has a 50 day moving average price of $0.31 and a two-hundred day moving average price of $0.36. FibroBiologics has a 12 month low of $0.19 and a 12 month high of $1.53. The company has a market capitalization of $14.87 million, a PE ratio of -0.52 and a beta of -0.69.

FibroBiologics (NASDAQ:FBLG) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. Sell-side analysts expect that FibroBiologics will post -0.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FBLG. Weiss Ratings reiterated a “sell (e+)” rating on shares of FibroBiologics in a research note on Thursday, January 22nd. D. Boral Capital reissued a “hold” rating on shares of FibroBiologics in a research note on Thursday. Finally, HC Wainwright decreased their target price on FibroBiologics to $4.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. One equities research 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.50.

Insider Transactions at FibroBiologics

In other FibroBiologics news, CFO Jason Davis purchased 70,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were bought at an average cost of $0.41 per share, with a total value of $28,700.00. Following the completion of the transaction, the chief financial officer owned 70,000 shares in the company, valued at $28,700. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 191,500 shares of company stock worth $72,893 in the last three months. 13.00% of the stock is owned by corporate insiders.

Institutional Trading of FibroBiologics

Several hedge funds have recently added to or reduced their stakes in FBLG. AQR Capital Management LLC bought a new position in FibroBiologics in the 1st quarter worth approximately $29,000. XTX Topco Ltd lifted its holdings in shares of 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. AMG National Trust Bank bought a new stake in shares of FibroBiologics in the fourth quarter valued at approximately $31,000. Jane Street Group LLC bought a new stake in shares of FibroBiologics in the fourth quarter valued at approximately $34,000. Finally, Marshall Wace LLP acquired a new stake in shares of FibroBiologics in the second quarter worth $49,000.

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.