FibroBiologics (NASDAQ:FBLG) Announces Quarterly Earnings Results

FibroBiologics (NASDAQ:FBLG) announced its quarterly earnings data on Friday. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.27, FiscalAI reports.

FibroBiologics Stock Performance

Shares of NASDAQ:FBLG traded down $0.02 on Friday, hitting $0.70. The stock had a trading volume of 105,497 shares, compared to its average volume of 250,685. The firm’s 50 day moving average price is $0.88 and its 200-day moving average price is $3.02. FibroBiologics has a twelve month low of $0.62 and a twelve month high of $13.16. The company has a market capitalization of $4.26 million, a price-to-earnings ratio of -0.10 and a beta of 1.14.

Hedge Funds Weigh In On FibroBiologics

Several institutional investors have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. bought a new stake in FibroBiologics during the third quarter worth about $191,000. Renaissance Technologies LLC boosted its holdings in shares of FibroBiologics by 287.3% in the 4th quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock worth $52,000 after acquiring an additional 171,800 shares in the last quarter. Jane Street Group LLC bought a new stake in FibroBiologics during the 4th quarter worth approximately $34,000. Marshall Wace LLP bought a new stake in FibroBiologics during the 2nd quarter worth approximately $49,000. Finally, Geode Capital Management LLC grew its position in FibroBiologics by 20.7% during the 4th quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock worth $78,000 after acquiring an additional 59,813 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $8.00 target price (up from $4.00) on shares of FibroBiologics in a research report on Thursday, April 16th. Weiss Ratings upgraded shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. Wall Street Zen raised FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Maxim Group lowered FibroBiologics from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, FibroBiologics has a consensus rating of “Hold” and an average price target of $74.00.

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.