FibroBiologics Inc. (NASDAQ:FBLG) Sees Large Decline in Short Interest

FibroBiologics Inc. (NASDAQ:FBLG) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 209,586 shares, a decline of 76.0% from the March 15th total of 873,527 shares. Approximately 6.9% of the company’s stock are sold short. Based on an average daily volume of 828,169 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FBLG shares. HC Wainwright decreased their price objective on shares of FibroBiologics to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Wall Street Zen raised shares of FibroBiologics to a “sell” rating in a research report on Saturday, April 4th. D. Boral Capital reaffirmed a “hold” rating on shares of FibroBiologics in a research report on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FibroBiologics in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $110.00.

FibroBiologics Stock Up 3.0%

FBLG traded up $0.04 on Monday, reaching $1.39. The company had a trading volume of 101,894 shares, compared to its average volume of 295,796. FibroBiologics has a 1 year low of $1.03 and a 1 year high of $30.60. The stock has a market capitalization of $4.88 million, a PE ratio of -0.17 and a beta of 1.07. The stock has a 50-day moving average price of $4.91 and a 200-day moving average price of $6.32.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. As a group, analysts expect that FibroBiologics will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jason Davis acquired 3,500 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was acquired at an average cost of $8.20 per share, with a total value of $28,700.00. Following the transaction, the chief financial officer owned 3,500 shares in the company, valued at approximately $28,700. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have acquired 9,574 shares of company stock worth $72,886. 13.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FibroBiologics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new stake in shares of FibroBiologics in the first quarter valued at about $29,000. XTX Topco Ltd raised its holdings in shares of FibroBiologics by 160.0% in the second quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock valued at $29,000 after buying an additional 28,276 shares during the last quarter. AMG National Trust Bank purchased a new stake in shares of FibroBiologics in the fourth quarter valued at about $31,000. Jane Street Group LLC purchased a new stake in shares of FibroBiologics in the fourth quarter valued at about $34,000. Finally, Marshall Wace LLP purchased a new stake in shares of FibroBiologics in the second quarter valued at about $49,000.

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.