FibroBiologics Inc. (NASDAQ:FBLG – Get Free Report) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 135,591 shares, a drop of 42.9% from the May 14th total of 237,640 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average daily volume of 99,753 shares, the days-to-cover ratio is currently 1.4 days.
Hedge Funds Weigh In On FibroBiologics
A number of institutional investors and hedge funds have recently modified their holdings of FBLG. AQR Capital Management LLC purchased a new position in shares of FibroBiologics in the 1st quarter worth approximately $29,000. XTX Topco Ltd boosted its holdings in shares of FibroBiologics by 160.0% in 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 period. AMG National Trust Bank purchased a new position in shares of FibroBiologics in the 4th quarter worth approximately $31,000. Jane Street Group LLC purchased a new position in shares of FibroBiologics in the 4th quarter worth approximately $34,000. Finally, Marshall Wace LLP purchased a new position in shares of FibroBiologics in the 2nd quarter worth approximately $49,000.
FibroBiologics Stock Performance
Shares of FibroBiologics stock opened at $0.93 on Friday. The stock has a market cap of $4.85 million, a price-to-earnings ratio of -0.13 and a beta of 1.13. The stock has a 50 day moving average price of $1.23 and a 200-day moving average price of $4.14. FibroBiologics has a one year low of $0.91 and a one year high of $17.20.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Wall Street Zen raised FibroBiologics from a “strong sell” rating to a “sell” rating in a research note on Saturday. D. Boral Capital reissued a “hold” rating on shares of FibroBiologics in a research note on Thursday, March 26th. HC Wainwright reissued a “buy” rating and set a $8.00 target price (up from $4.00) on shares of FibroBiologics in a research note on Thursday, April 16th. Weiss Ratings downgraded FibroBiologics from a “sell (e+)” rating to a “sell (e)” rating in a research note on Monday, June 1st. Finally, Maxim Group downgraded FibroBiologics from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.00.
Check Out Our Latest Report on FBLG
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.
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