FibroBiologics Inc. (NASDAQ:FBLG) Given Consensus Recommendation of “Reduce” by Analysts

FibroBiologics Inc. (NASDAQ:FBLG) has been assigned an average rating of “Reduce” from the five analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $73.00.

Several equities research analysts recently weighed in on FBLG shares. Deutsche Bank Aktiengesellschaft cut shares of FibroBiologics to an “underperform” rating in a research report on Tuesday, August 4th. Maxim Group cut shares of FibroBiologics from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. HC Wainwright restated a “buy” rating and issued a $6.00 target price (down from $8.00) on shares of FibroBiologics in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings cut shares of FibroBiologics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, August 20th.

FibroBiologics Price Performance

NASDAQ:FBLG opened at $1.44 on Friday. FibroBiologics has a 1 year low of $0.62 and a 1 year high of $12.80. The stock’s 50 day simple moving average is $0.94 and its two-hundred day simple moving average is $2.26. The company has a market cap of $9.59 million, a price-to-earnings ratio of -0.28 and a beta of 1.20.

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, analysts anticipate that FibroBiologics will post -3 EPS for the current year.

Institutional Investors Weigh In On FibroBiologics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of FibroBiologics by 20.7% in the 4th quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock valued at $78,000 after purchasing an additional 59,813 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of FibroBiologics during the 3rd quarter valued at approximately $191,000. Cerity Partners LLC increased 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 purchasing an additional 34,702 shares during the last quarter. Jane Street Group LLC purchased a new stake in FibroBiologics during the 4th quarter valued at $34,000. Finally, Renaissance Technologies LLC raised its holdings in FibroBiologics by 287.3% during the 4th quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock valued at $52,000 after buying an additional 171,800 shares during the period.

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.