FibroBiologics (NASDAQ:FBLG) General Counsel Buys $13,200.00 in Stock

FibroBiologics Inc. (NASDAQ:FBLG) General Counsel Ruben Garcia purchased 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average cost of $0.33 per share, with a total value of $13,200.00. Following the completion of the purchase, the general counsel owned 180,000 shares in the company, valued at $59,400. This trade represents a 28.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

FibroBiologics Stock Up 15.0%

FibroBiologics stock traded up $0.05 during midday trading on Monday, reaching $0.38. The stock had a trading volume of 1,698,206 shares, compared to its average volume of 1,310,852. The firm has a market cap of $25.55 million, a price-to-earnings ratio of -0.90 and a beta of -0.69. FibroBiologics Inc. has a 52-week low of $0.22 and a 52-week high of $1.53. The company has a fifty day moving average of $0.29 and a 200 day moving average of $0.39.

FibroBiologics (NASDAQ:FBLG) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. Equities research analysts predict that FibroBiologics Inc. will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FBLG. AQR Capital Management LLC purchased a new stake in shares of FibroBiologics during the 1st quarter worth $29,000. Y Intercept Hong Kong Ltd bought a new position in FibroBiologics in the second quarter worth about $37,000. Ethos Financial Group LLC raised its holdings in FibroBiologics by 100.0% in the second quarter. Ethos Financial Group LLC now owns 48,848 shares of the company’s stock worth $30,000 after purchasing an additional 24,424 shares in the last quarter. Cascade Financial Partners LLC lifted its position in shares of FibroBiologics by 11.7% during the second quarter. Cascade Financial Partners LLC now owns 290,581 shares of the company’s stock valued at $181,000 after buying an additional 30,500 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings 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 buying an additional 28,276 shares in the last quarter.

Wall Street Analyst Weigh In

FBLG has been the subject of a number of research analyst reports. HC Wainwright decreased their price objective on shares of FibroBiologics to $4.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of FibroBiologics in a report on Thursday, January 22nd. Finally, D. Boral Capital reduced their price objective on FibroBiologics from $15.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.50.

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.