FibroBiologics Stock to Reverse Split on Monday, March 30th (NASDAQ:FBLG)

Shares of FibroBiologics Inc. (NASDAQ:FBLG) are going to reverse split on the morning of Monday, March 30th. The 1-20 reverse split was announced on Wednesday, March 25th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, March 27th.

FibroBiologics Stock Performance

FibroBiologics stock traded down $0.04 during midday trading on Thursday, hitting $0.22. 2,268,702 shares of the company were exchanged, compared to its average volume of 1,317,352. The business has a fifty day simple moving average of $0.30 and a two-hundred day simple moving average of $0.35. The firm has a market capitalization of $14.87 million, a PE ratio of -0.52 and a beta of -0.69. FibroBiologics has a fifty-two week low of $0.19 and a fifty-two week high of $1.53.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. As a group, equities analysts expect that FibroBiologics will post -0.53 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on FBLG. D. Boral Capital reiterated a “hold” rating on shares of FibroBiologics in a research report on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of FibroBiologics in a report on Thursday, January 22nd. Finally, HC Wainwright reduced their price objective on shares of FibroBiologics to $4.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.50.

Insider Transactions at FibroBiologics

In other FibroBiologics news, CFO Jason Davis purchased 70,000 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average price of $0.41 per share, for a total transaction of $28,700.00. Following the completion of the purchase, the chief financial officer directly owned 70,000 shares in the company, valued at approximately $28,700. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have purchased 191,500 shares of company stock worth $72,893. 13.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FibroBiologics

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in FibroBiologics during the 1st quarter worth $29,000. XTX Topco Ltd raised its holdings in shares of FibroBiologics by 160.0% in the second quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock valued at $29,000 after buying an additional 28,276 shares during the last quarter. AMG National Trust Bank purchased a new stake in shares of FibroBiologics in the fourth quarter valued at about $31,000. Jane Street Group LLC acquired a new stake in shares of FibroBiologics during the fourth quarter worth about $34,000. Finally, Marshall Wace LLP acquired a new stake in shares of FibroBiologics during the second quarter worth about $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.