Bone Biologics (NASDAQ:BBLG) Shares Up 3% – Time to Buy?

Bone Biologics Corp. (NASDAQ:BBLG)’s share price shot up 3% during mid-day trading on Thursday . The stock traded as high as $1.39 and last traded at $1.38. Approximately 33,393 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 142,839 shares. The stock had previously closed at $1.34.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Bone Biologics from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Bone Biologics presently has an average rating of “Sell”.

Bone Biologics Price Performance

The firm’s fifty day simple moving average is $1.32 and its 200 day simple moving average is $1.37. The company has a market capitalization of $2.50 million, a price-to-earnings ratio of -0.61 and a beta of 0.90.

Bone Biologics (NASDAQ:BBLG) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.43). Equities research analysts forecast that Bone Biologics Corp. will post -1.17 earnings per share for the current fiscal year.

Institutional Trading of Bone Biologics

A hedge fund recently raised its stake in Bone Biologics stock. DRW Securities LLC increased its holdings in shares of Bone Biologics Corp. (NASDAQ:BBLG) by 113.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,576 shares of the company’s stock after buying an additional 12,549 shares during the quarter. DRW Securities LLC owned 1.31% of Bone Biologics worth $34,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 34.30% of the company’s stock.

About Bone Biologics

Bone Biologics, Inc (NASDAQ: BBLG) is a clinical-stage biotechnology company focused on the development of cell-based therapies for skeletal repair and regeneration. The company’s research efforts center on both allogeneic and autologous mesenchymal cell platforms designed to enhance bone healing in patients with orthopedic injuries and degenerative bone conditions. Its approach aims to provide alternatives to traditional grafting procedures by harnessing the regenerative potential of specialized stem cells.

Leveraging proprietary cell expansion and delivery technologies, Bone Biologics is advancing a pipeline of investigational therapies targeting indications such as spinal fusion, long-bone non-union and maxillofacial defects.