FibroBiologics (NASDAQ:FBLG) Announces Quarterly Earnings Results

FibroBiologics (NASDAQ:FBLG) announced its earnings results on Tuesday. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06, FiscalAI reports.

FibroBiologics Trading Up 5.7%

FibroBiologics stock opened at $0.27 on Wednesday. The stock has a market cap of $17.79 million, a PE ratio of -0.56 and a beta of -0.60. The stock has a 50-day moving average price of $0.29 and a 200 day moving average price of $0.39. FibroBiologics has a 52 week low of $0.22 and a 52 week high of $1.53.

Insider Activity at FibroBiologics

In other news, General Counsel Ruben A. Garcia purchased 140,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was acquired at an average cost of $0.34 per share, for a total transaction of $47,600.00. Following the completion of the acquisition, the general counsel directly owned 140,000 shares in the company, valued at $47,600. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.00% of the stock is currently owned by company insiders.

Institutional Trading of FibroBiologics

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC raised its holdings in FibroBiologics by 37.2% in 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 last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of FibroBiologics in the third quarter valued at $191,000. Ethos Financial Group LLC increased its stake in FibroBiologics by 100.0% in the second quarter. Ethos Financial Group LLC now owns 48,848 shares of the company’s stock valued at $30,000 after purchasing an additional 24,424 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in FibroBiologics in the second quarter valued at $37,000. Finally, Yorkville Advisors Global LP purchased a new position in FibroBiologics during the third quarter worth about $278,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FBLG. Weiss Ratings restated a “sell (e+)” rating on shares of FibroBiologics in a research report on Thursday, January 22nd. D. Boral Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of FibroBiologics in a report on Tuesday, January 6th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of FibroBiologics in a research report on Friday, January 2nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.00.

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.