FibroBiologics Inc. (NASDAQ:FBLG) Short Interest Down 47.8% in July

FibroBiologics Inc. (NASDAQ:FBLG) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totaling 70,837 shares, a decrease of 47.8% from the June 30th total of 135,794 shares. Approximately 1.3% of the company’s stock are sold short. Based on an average daily volume of 59,556 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of FibroBiologics

A number of hedge funds and other institutional investors have recently modified their holdings of FBLG. XTX Topco Ltd increased its position in shares of FibroBiologics by 160.0% during the 2nd quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock worth $29,000 after purchasing an additional 28,276 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of FibroBiologics in the 1st quarter valued at approximately $29,000. Cerity Partners LLC grew its stake in shares of FibroBiologics by 37.2% in the second quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock valued at $80,000 after buying an additional 34,702 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of FibroBiologics by 20.7% in the fourth quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock valued at $78,000 after buying an additional 59,813 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of FibroBiologics in the second quarter valued at $49,000.

Analysts Set New Price Targets

FBLG has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and issued a $8.00 price target (up from $4.00) on shares of FibroBiologics in a report on Thursday, April 16th. Weiss Ratings upgraded FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, July 24th. Maxim Group downgraded FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Wall Street Zen raised FibroBiologics from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.00.

FibroBiologics Stock Down 2.7%

FBLG traded down $0.02 during trading hours on Friday, hitting $0.70. 105,717 shares of the company’s stock were exchanged, compared to its average volume of 250,686. The stock has a market cap of $4.26 million, a price-to-earnings ratio of -0.10 and a beta of 1.14. FibroBiologics has a 1-year low of $0.62 and a 1-year high of $13.16. The stock’s 50-day moving average is $0.88 and its two-hundred day moving average is $3.02.

FibroBiologics (NASDAQ:FBLG) last issued its quarterly earnings results on Friday, July 31st. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.27. On average, equities research analysts anticipate that FibroBiologics will post -4.01 EPS for the current year.

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.