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

FibroBiologics Inc. (NASDAQ:FBLG) was the recipient of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 135,591 shares, a decrease 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 trading volume of 99,753 shares, the days-to-cover ratio is presently 1.4 days.

FibroBiologics Stock Down 9.3%

Shares of FBLG traded down $0.08 during trading hours on Tuesday, reaching $0.81. 135,309 shares of the company traded hands, compared to its average volume of 281,720. The stock has a market capitalization of $4.22 million, a PE ratio of -0.12 and a beta of 1.13. FibroBiologics has a fifty-two week low of $0.78 and a fifty-two week high of $16.20. The stock has a fifty day simple moving average of $1.22 and a 200 day simple moving average of $4.11.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($1.33) EPS for the quarter, meeting analysts’ consensus estimates of ($1.33). Research analysts predict that FibroBiologics will post -4.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FBLG. D. Boral Capital reiterated a “hold” rating on shares of FibroBiologics in a research report on Thursday, March 26th. Weiss Ratings cut FibroBiologics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday, June 1st. Maxim Group cut FibroBiologics from a “buy” rating to a “hold” rating in a research report on Monday, May 4th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective (up from $4.00) on shares of FibroBiologics in a research report on Thursday, April 16th. Finally, Wall Street Zen upgraded FibroBiologics from a “strong sell” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, FibroBiologics currently has an average rating of “Hold” and a consensus target price of $74.00.

Institutional Trading of FibroBiologics

A number of hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its stake in 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 buying an additional 28,276 shares during the last quarter. AQR Capital Management LLC acquired a new stake in FibroBiologics in the 1st quarter worth about $29,000. Cerity Partners LLC boosted its stake in FibroBiologics by 37.2% in the 2nd quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock worth $80,000 after buying an additional 34,702 shares during the last quarter. Geode Capital Management LLC boosted its stake in FibroBiologics by 20.7% in the 4th quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock worth $78,000 after buying an additional 59,813 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in FibroBiologics in the 2nd quarter worth 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.