FibroBiologics (NASDAQ:FBLG) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

FibroBiologics (NASDAQ:FBLG) issued its earnings results on Tuesday. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06, FiscalAI reports.

FibroBiologics Price Performance

NASDAQ:FBLG traded up $0.02 during midday trading on Thursday, reaching $0.29. The stock had a trading volume of 351,314 shares, compared to its average volume of 1,295,576. The stock has a market capitalization of $18.96 million, a P/E ratio of -0.68 and a beta of -0.60. FibroBiologics has a 1-year low of $0.22 and a 1-year high of $1.53. The firm’s fifty day simple moving average is $0.29 and its 200-day simple moving average is $0.39.

Insider Activity

In other FibroBiologics news, General Counsel Ruben A. Garcia purchased 140,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were bought at an average cost of $0.34 per share, with a total value of $47,600.00. Following the completion of the transaction, the general counsel owned 140,000 shares in the company, valued at $47,600. 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. Corporate insiders own 13.00% of the company’s stock.

Institutional Trading of FibroBiologics

Hedge funds have recently added to or reduced their stakes in the business. Yorkville Advisors Global LP bought a new position in FibroBiologics in the 3rd quarter worth approximately $278,000. Landscape Capital Management L.L.C. acquired a new stake in shares of FibroBiologics in the third quarter worth $191,000. Renaissance Technologies LLC increased its position in FibroBiologics by 287.3% during the fourth quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock worth $52,000 after acquiring an additional 171,800 shares during the period. Jane Street Group LLC acquired a new position in FibroBiologics during the 4th quarter valued at $34,000. Finally, AMG National Trust Bank acquired a new position in FibroBiologics during the 4th quarter valued at $31,000.

Analysts Set New Price Targets

FBLG has been the subject of several recent research reports. D. Boral Capital lowered their price target on FibroBiologics from $15.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of FibroBiologics in a research note on Thursday, January 22nd. Finally, HC Wainwright cut their price target on shares of FibroBiologics to $4.00 and set a “buy” rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.50.

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.