FibroBiologics Inc. (NASDAQ:FBLG) Short Interest Up 62.6% in July

FibroBiologics Inc. (NASDAQ:FBLG) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 115,200 shares, a growth of 62.6% from the July 15th total of 70,837 shares. Based on an average trading volume of 90,907 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. purchased a new position in shares of FibroBiologics in the 3rd quarter valued at approximately $191,000. Renaissance Technologies LLC grew its position in 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 during the last quarter. Jane Street Group LLC purchased a new stake in FibroBiologics during the 4th quarter worth approximately $34,000. AMG National Trust Bank purchased a new stake in FibroBiologics during the 4th quarter worth approximately $31,000. Finally, Marshall Wace LLP acquired a new position in FibroBiologics during the 2nd quarter valued at approximately $49,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FBLG shares. Maxim Group cut FibroBiologics from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen upgraded FibroBiologics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Deutsche Bank Aktiengesellschaft downgraded shares of FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, July 24th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of FibroBiologics in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, FibroBiologics has a consensus rating of “Reduce” and an average target price of $73.00.

FibroBiologics Price Performance

NASDAQ FBLG traded down $0.04 on Monday, hitting $1.02. The stock had a trading volume of 118,926 shares, compared to its average volume of 249,847. The business’s fifty day moving average price is $0.85 and its 200 day moving average price is $2.51. FibroBiologics has a 52-week low of $0.62 and a 52-week high of $12.80. The stock has a market cap of $6.79 million, a price-to-earnings ratio of -0.20 and a beta of 1.20.

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, topping analysts’ consensus estimates of ($0.93) by $0.27. As a group, sell-side analysts anticipate 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.