FibroBiologics (NASDAQ:FBLG) Shares to Reverse Split on Monday, March 30th

FibroBiologics Inc. (NASDAQ:FBLG)’s stock is going to reverse split before the market opens on Monday, March 30th. The 1-20 reverse split was announced on Wednesday, March 25th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, March 27th.

FibroBiologics Stock Performance

FBLG traded down $0.04 during midday trading on Thursday, reaching $0.22. 2,268,702 shares of the company were exchanged, compared to its average volume of 1,317,352. The company has a market cap of $14.87 million, a price-to-earnings ratio of -0.52 and a beta of -0.69. FibroBiologics has a one year low of $0.19 and a one year high of $1.53. The company’s fifty day moving average price is $0.30 and its 200 day moving average price is $0.35.

FibroBiologics (NASDAQ:FBLG) last posted its earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. As a group, sell-side analysts anticipate that FibroBiologics will post -0.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FBLG has been the subject of several recent analyst reports. D. Boral Capital reiterated a “hold” rating on shares of FibroBiologics in a research note on Thursday. HC Wainwright dropped their price target on shares of FibroBiologics to $4.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of FibroBiologics in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, FibroBiologics currently has an average rating of “Hold” and an average price target of $5.50.

Insider Buying and Selling

In other FibroBiologics news, CFO Jason Davis acquired 70,000 shares of FibroBiologics stock in a transaction on Monday, March 2nd. The stock was purchased at an average price of $0.41 per share, for a total transaction of $28,700.00. Following the purchase, the chief financial officer directly owned 70,000 shares of the company’s stock, valued at $28,700. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders acquired 191,500 shares of company stock worth $72,893 in the last 90 days. Company insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in FibroBiologics in the 1st quarter worth about $29,000. XTX Topco Ltd raised its stake in 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 acquiring an additional 28,276 shares during the period. Marshall Wace LLP purchased a new stake in FibroBiologics during the second quarter valued at about $49,000. Jane Street Group LLC purchased a new stake in FibroBiologics during the second quarter valued at about $60,000. Finally, Cerity Partners LLC boosted its position in FibroBiologics by 37.2% during the second quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock worth $80,000 after purchasing an additional 34,702 shares during the period.

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.