FibroBiologics (NASDAQ:FBLG) Posts Quarterly Earnings Results, Beats Expectations By $0.27 EPS

FibroBiologics (NASDAQ:FBLG) released its quarterly earnings results on Friday. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.27, FiscalAI reports.

FibroBiologics Trading Down 2.7%

FBLG stock opened at $0.70 on Friday. The firm has a 50 day moving average of $0.87 and a 200-day moving average of $3.01. FibroBiologics has a 12-month low of $0.62 and a 12-month high of $13.16. The company has a market cap of $4.26 million, a price-to-earnings ratio of -0.13 and a beta of 1.14.

Institutional Investors Weigh In On FibroBiologics

A number of institutional investors and hedge funds have recently modified their holdings of FBLG. Landscape Capital Management L.L.C. acquired a new position in FibroBiologics during the third quarter worth $191,000. Geode Capital Management LLC boosted its position in FibroBiologics by 20.7% during the fourth quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock worth $78,000 after purchasing an additional 59,813 shares in the last quarter. Renaissance Technologies LLC grew its holdings in FibroBiologics by 287.3% in the fourth quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock valued at $52,000 after purchasing an additional 171,800 shares during the last quarter. Jane Street Group LLC acquired a new stake in FibroBiologics in the fourth quarter valued at $34,000. Finally, Cerity Partners LLC increased its position in shares of FibroBiologics by 37.2% in the second quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock valued at $80,000 after buying an additional 34,702 shares in the last quarter.

Analyst Ratings Changes

FBLG has been the subject of several analyst reports. Wall Street Zen raised FibroBiologics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings upgraded FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price (up from $4.00) on shares of FibroBiologics in a research note on Thursday, April 16th. Finally, Maxim Group lowered FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $74.00.

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.