FibroBiologics Inc. (NASDAQ:FBLG) Short Interest Up 62.6% in July

FibroBiologics Inc. (NASDAQ:FBLG) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 115,200 shares, an increase of 62.6% from the July 15th total of 70,837 shares. Based on an average daily trading volume, of 90,907 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.9% of the shares of the stock are short sold.

Analysts Set New Price Targets

FBLG has been the subject of a number of analyst reports. Wall Street Zen raised FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Deutsche Bank Aktiengesellschaft cut FibroBiologics to an “underperform” rating in a research report on Tuesday, August 4th. HC Wainwright reissued a “buy” rating and issued a $6.00 target price (down from $8.00) on shares of FibroBiologics in a research note on Tuesday, August 4th. Maxim Group lowered shares of FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $73.00.

Institutional Trading of FibroBiologics

Institutional investors and hedge funds have recently bought and sold shares of the business. Landscape Capital Management L.L.C. acquired a new stake in shares of FibroBiologics in the third quarter worth $191,000. Renaissance Technologies LLC boosted its stake in shares of FibroBiologics by 287.3% in the fourth 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 during the period. Jane Street Group LLC acquired a new stake in FibroBiologics during the 4th quarter valued at $34,000. AMG National Trust Bank acquired a new stake in FibroBiologics during the 4th quarter valued at approximately $31,000. Finally, Marshall Wace LLP acquired a new position in shares of FibroBiologics in the 2nd quarter valued at approximately $49,000.

FibroBiologics Trading Up 5.4%

Shares of FibroBiologics stock traded up $0.06 during trading hours on Wednesday, reaching $1.20. 68,546 shares of the company’s stock were exchanged, compared to its average volume of 248,930. FibroBiologics has a 52-week low of $0.62 and a 52-week high of $12.80. The company has a fifty day moving average of $0.86 and a 200-day moving average of $2.47. The firm has a market capitalization of $8.00 million, a price-to-earnings ratio of -0.24 and a beta of 1.20.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings data on Friday, July 31st. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.27. On average, equities research analysts anticipate that FibroBiologics will post -3 earnings per share for the current fiscal year.

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.