FibroBiologics Inc. (NASDAQ:FBLG) Receives $74.00 Average Target Price from Brokerages

FibroBiologics Inc. (NASDAQ:FBLG) has earned a consensus recommendation of “Reduce” from the five ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $73.00.

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of FibroBiologics to an “underperform” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. HC Wainwright restated a “buy” rating and issued a $6.00 price objective (down from $8.00) on shares of FibroBiologics in a report on Tuesday, August 4th. Maxim Group downgraded FibroBiologics from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, July 24th.

Institutional Trading of FibroBiologics

A number of large investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new stake in FibroBiologics in the third quarter worth approximately $191,000. Renaissance Technologies LLC raised its stake in FibroBiologics by 287.3% during the 4th quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock valued at $52,000 after buying an additional 171,800 shares during the last quarter. Jane Street Group LLC bought a new position in shares of FibroBiologics during the 4th quarter valued at $34,000. AMG National Trust Bank bought a new position in shares of FibroBiologics during the 4th quarter valued at $31,000. Finally, Marshall Wace LLP purchased a new position in shares of FibroBiologics in the 2nd quarter worth $49,000.

FibroBiologics Stock Performance

Shares of FBLG opened at $0.98 on Tuesday. FibroBiologics has a fifty-two week low of $0.62 and a fifty-two week high of $12.80. The firm’s 50-day simple moving average is $0.85 and its two-hundred day simple moving average is $2.73. The stock has a market cap of $6.53 million, a PE ratio of -0.19 and a beta of 1.20.

FibroBiologics (NASDAQ:FBLG) last released its earnings results on Friday, July 31st. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.27. Equities research analysts predict that FibroBiologics will post -3 EPS 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.