FibroBiologics Inc. (NASDAQ:FBLG) Shares Shorted: Short Interest Up 60.0% in September

FibroBiologics Inc. (NASDAQ:FBLG) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 661,912 shares, a growth of 60.0% from the August 31st total of 413,742 shares. Currently, 10.7% of the company’s stock are short sold. Based on an average daily trading volume, of 357,923 shares, the days-to-cover ratio is presently 1.8 days.

FibroBiologics Price Performance

Shares of FBLG opened at $1.21 on Friday. FibroBiologics has a 1-year low of $0.62 and a 1-year high of $11.40. The stock has a market cap of $8.03 million, a PE ratio of -0.23 and a beta of 1.72. The firm has a fifty day moving average price of $1.29 and a 200 day moving average price of $1.44.

FibroBiologics (NASDAQ:FBLG) last issued its quarterly earnings data on Friday, July 31st. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $0.27. As a group, equities analysts expect that FibroBiologics will post -3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on FBLG. Wall Street Zen raised FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Deutsche Bank Aktiengesellschaft downgraded FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. Weiss Ratings raised FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, September 4th. Finally, HC Wainwright restated a “buy” rating and set a $6.00 target price (down from $8.00) on shares of FibroBiologics in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $73.00.

About FibroBiologics

FibroBiologics, Inc is a clinical-stage biotechnology company developing cell-based therapies for chronic diseases. The company’s research focuses on fibroblasts, a type of cell involved in tissue maintenance and repair, and the biologically active factors and extracellular vesicles that these cells produce.

FibroBiologics is developing a proprietary platform intended to generate therapeutic products from fibroblast-derived cells and their secretions. Its pipeline is aimed at conditions associated with tissue damage, inflammation, and impaired regeneration, including multiple sclerosis, psoriasis, and degenerative disc disease.