FibroBiologics Inc. (NASDAQ:FBLG) Sees Large Drop in Short Interest

FibroBiologics Inc. (NASDAQ:FBLG) was the recipient of a significant decline in short interest in May. As of May 29th, there was short interest totaling 135,591 shares, a decline of 42.9% from the May 14th total of 237,640 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average trading volume of 99,753 shares, the days-to-cover ratio is currently 1.4 days.

FibroBiologics Trading Down 4.1%

Shares of NASDAQ:FBLG traded down $0.04 during mid-day trading on Monday, hitting $0.89. 216,157 shares of the company traded hands, compared to its average volume of 283,002. The stock has a market cap of $4.65 million, a P/E ratio of -0.13 and a beta of 1.13. FibroBiologics has a 12-month low of $0.86 and a 12-month high of $17.20. The stock has a 50-day moving average price of $1.22 and a two-hundred day moving average price of $4.11.

FibroBiologics (NASDAQ:FBLG) last announced its earnings results on Thursday, April 30th. The company reported ($1.33) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.33). As a group, analysts expect that FibroBiologics will post -4.01 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Maxim Group downgraded FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. HC Wainwright restated a “buy” rating and set a $8.00 price objective (up from $4.00) on shares of FibroBiologics in a report on Thursday, April 16th. Weiss Ratings downgraded FibroBiologics from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, June 1st. Wall Street Zen upgraded FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, D. Boral Capital restated a “hold” rating on shares of FibroBiologics in a report on Thursday, March 26th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, FibroBiologics presently has an average rating of “Hold” and a consensus target price of $74.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new position in FibroBiologics in the first quarter worth $29,000. XTX Topco Ltd boosted its position in FibroBiologics by 160.0% in the second quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock worth $29,000 after purchasing an additional 28,276 shares during the last quarter. AMG National Trust Bank purchased a new position in FibroBiologics in the fourth quarter worth $31,000. Jane Street Group LLC purchased a new position in FibroBiologics in the fourth quarter worth $34,000. Finally, Marshall Wace LLP purchased a new position in 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.