FibroBiologics Inc. (NASDAQ:FBLG – Get Free Report) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 330,551 shares, a decrease of 36.7% from the September 30th total of 522,114 shares. Based on an average trading volume of 140,541 shares, the days-to-cover ratio is currently 2.4 days. Currently, 5.4% of the shares of the company are short sold.
Institutional Trading of FibroBiologics
A hedge fund recently bought a new position in FibroBiologics stock. IFP Advisors Inc bought a new position in FibroBiologics Inc. (NASDAQ:FBLG – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 27,000 shares of the company’s stock, valued at approximately $35,000. IFP Advisors Inc owned 0.41% of FibroBiologics as of its most recent filing with the SEC.
FibroBiologics Trading Up 7.6%
Shares of NASDAQ:FBLG opened at $0.99 on Wednesday. The stock has a 50 day moving average of $1.29 and a 200 day moving average of $2.37. The company has a market cap of $6.59 million, a PE ratio of -0.19 and a beta of 1.81. FibroBiologics has a 12-month low of $0.62 and a 12-month high of $9.60.
Analyst Upgrades and Downgrades
FBLG has been the subject of a number of recent research reports. Wall Street Zen upgraded FibroBiologics to a “hold” rating in a research note on Saturday, October 10th. Deutsche Bank Aktiengesellschaft cut shares of FibroBiologics to an “underperform” rating in a research note on Tuesday, August 4th. Weiss Ratings raised shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, September 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 price objective (down from $8.00) on shares of FibroBiologics in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, FibroBiologics presently has a consensus rating of “Reduce” and a consensus price target of $73.00.
Get Our Latest Stock Analysis on FBLG
About FibroBiologics
FibroBiologics, Inc is a clinical-stage biotechnology company developing cell-based therapies for chronic diseases. Its research focuses on fibroblasts, connective-tissue cells that may support tissue repair and influence immune-system activity, as well as biologically active materials derived from these cells.
The company is developing a platform that includes fibroblast-based cell therapies and fibroblast-derived extracellular vesicles. These potential treatments are intended to address conditions involving chronic inflammation, immune dysfunction, and tissue damage.
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