FibroBiologics Inc. (NASDAQ:FBLG) Sees Significant Decrease in Short Interest

FibroBiologics Inc. (NASDAQ:FBLG) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 795,335 shares, a decrease of 42.8% from the November 30th total of 1,389,641 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,960,972 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 1,960,972 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.4% of the company’s stock are sold short.

Insider Buying and Selling at FibroBiologics

In other FibroBiologics news, General Counsel Ruben A. Garcia purchased 140,000 shares of the stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $0.34 per share, with a total value of $47,600.00. Following the completion of the transaction, the general counsel directly owned 140,000 shares in the company, valued at $47,600. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.00% of the company’s stock.

Institutional Investors Weigh In On FibroBiologics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new stake in FibroBiologics during the 1st quarter valued at $29,000. Nuveen LLC purchased a new stake in shares of FibroBiologics in the first quarter worth $31,000. XTX Topco Ltd raised its holdings 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 buying an additional 28,276 shares during the last quarter. Ethos Financial Group LLC lifted its position in FibroBiologics by 100.0% in the 2nd quarter. Ethos Financial Group LLC now owns 48,848 shares of the company’s stock valued at $30,000 after acquiring an additional 24,424 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in FibroBiologics in the 2nd quarter worth about $37,000.

Analysts Set New Price Targets

Several brokerages have recently commented on FBLG. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of FibroBiologics in a research note on Friday, September 12th. D. Boral Capital reaffirmed a “buy” rating and issued a $15.00 price objective on shares of FibroBiologics in a research note on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FibroBiologics in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

FibroBiologics Stock Performance

Shares of FibroBiologics stock traded down $0.01 on Monday, hitting $0.24. The company had a trading volume of 713,139 shares, compared to its average volume of 647,878. The stock has a 50 day moving average of $0.32 and a 200-day moving average of $0.50. The stock has a market capitalization of $16.10 million, a price-to-earnings ratio of -0.50 and a beta of -0.57. FibroBiologics has a 1 year low of $0.22 and a 1 year high of $2.39.

FibroBiologics (NASDAQ:FBLG) last released its earnings results on Friday, October 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). Equities analysts anticipate that FibroBiologics will post -0.53 earnings per share for the current year.

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.