FibroBiologics (NASDAQ:FBLG) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of FibroBiologics (NASDAQ:FBLG) to a sell rating in a research report released on Saturday.

FBLG has been the topic of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of FibroBiologics in a report on Thursday, January 22nd. D. Boral Capital restated a “hold” rating on shares of FibroBiologics in a research report on Thursday, March 26th. Finally, HC Wainwright reduced their price objective on shares of FibroBiologics to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. One equities 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 stock. According to MarketBeat.com, FibroBiologics has an average rating of “Hold” and a consensus target price of $110.00.

FibroBiologics Stock Performance

NASDAQ FBLG opened at $1.38 on Friday. The stock has a market capitalization of $4.84 million, a price-to-earnings ratio of -0.16 and a beta of 1.07. FibroBiologics has a 52 week low of $1.03 and a 52 week high of $30.60. The stock’s 50 day moving average price is $5.49 and its two-hundred day moving average price is $6.68.

FibroBiologics (NASDAQ:FBLG) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. On average, equities research analysts forecast that FibroBiologics will post -0.53 EPS for the current year.

Insider Activity

In other FibroBiologics news, CFO Jason Davis bought 3,500 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average price of $8.20 per share, for a total transaction of $28,700.00. Following the transaction, the chief financial officer directly owned 3,500 shares in the company, valued at approximately $28,700. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders bought 9,574 shares of company stock valued at $72,886. 13.00% of the stock is owned by insiders.

Institutional Investors Weigh In On FibroBiologics

A number of hedge funds have recently added to or reduced their stakes in FBLG. AQR Capital Management LLC acquired a new position in FibroBiologics in the first quarter valued at approximately $29,000. XTX Topco Ltd increased its stake in shares of FibroBiologics by 160.0% in the 2nd quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock valued at $29,000 after acquiring an additional 28,276 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of FibroBiologics in the 2nd quarter valued at $49,000. Cerity Partners LLC lifted its position in shares of FibroBiologics by 37.2% during the 2nd quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock valued at $80,000 after acquiring an additional 34,702 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of FibroBiologics during the 2nd quarter valued at $60,000.

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.