FibroBiologics Inc. (NASDAQ:FBLG) Short Interest Update

FibroBiologics Inc. (NASDAQ:FBLG) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 873,527 shares, an increase of 30.1% from the February 26th total of 671,279 shares. Based on an average trading volume of 1,498,900 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.5% of the company’s stock are sold short.

FibroBiologics Trading Down 42.0%

Shares of NASDAQ:FBLG traded down $1.65 during midday trading on Monday, hitting $2.28. The stock had a trading volume of 511,040 shares, compared to its average volume of 73,320. FibroBiologics has a 1 year low of $2.26 and a 1 year high of $30.60. The stock has a 50 day moving average price of $6.02 and a two-hundred day moving average price of $6.98. The company has a market capitalization of $160.19 million, a PE ratio of -5.43 and a beta of -0.69.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.80) by $1.20. As a group, equities analysts expect that FibroBiologics will post -0.53 EPS for the current year.

Analyst Ratings Changes

FBLG has been the subject of a number of recent research reports. HC Wainwright decreased their price target on shares of FibroBiologics to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of FibroBiologics in a report on Thursday, January 22nd. Finally, D. Boral Capital restated a “hold” rating on shares of FibroBiologics in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, FibroBiologics presently has an average rating of “Hold” and a consensus price target of $110.00.

Insider Buying and Selling at FibroBiologics

In related news, CFO Jason Davis bought 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were purchased at an average cost of $8.20 per share, with a total value of $28,700.00. Following the transaction, the chief financial officer directly owned 3,500 shares of the company’s stock, valued at approximately $28,700. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders bought 9,574 shares of company stock worth $72,886. 13.00% of the stock is currently owned by company insiders.

Institutional Trading of FibroBiologics

Hedge funds have recently modified their holdings of the business. Yorkville Advisors Global LP acquired a new position in FibroBiologics during the third quarter worth $278,000. XTX Topco Ltd lifted its holdings in 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 acquiring an additional 28,276 shares during the period. Jane Street Group LLC acquired a new stake in FibroBiologics in the fourth quarter valued at $34,000. Marshall Wace LLP purchased a new stake in shares of FibroBiologics during the 2nd quarter worth $49,000. Finally, Renaissance Technologies LLC boosted its position in shares of FibroBiologics by 287.3% during the 4th quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock worth $52,000 after purchasing an additional 171,800 shares in the last quarter.

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.