Short Interest in FibroBiologics, Inc. (NASDAQ:FBLG) Rises By 23.3%

FibroBiologics, Inc. (NASDAQ:FBLG) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,850,000 shares, an increase of 23.3% from the August 31st total of 1,500,000 shares. Currently, 6.9% of the company’s shares are short sold. Based on an average daily volume of 493,100 shares, the days-to-cover ratio is presently 3.8 days.

Hedge Funds Weigh In On FibroBiologics

Institutional investors have recently made changes to their positions in the stock. Fund Evaluation Group LLC acquired a new position in shares of FibroBiologics during the second quarter valued at $5,265,000. Cascade Financial Partners LLC acquired a new stake in FibroBiologics in the 2nd quarter valued at about $1,572,000. Transform Wealth LLC bought a new stake in FibroBiologics during the second quarter worth approximately $668,000. Bank of New York Mellon Corp acquired a new position in FibroBiologics in the second quarter worth approximately $342,000. Finally, RMR Wealth Builders acquired a new position in shares of FibroBiologics in the 2nd quarter valued at $186,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FBLG shares. EF Hutton Acquisition Co. I raised shares of FibroBiologics to a “strong-buy” rating in a research report on Wednesday, September 4th. Maxim Group initiated coverage on shares of FibroBiologics in a report on Tuesday, September 24th. They issued a “buy” rating and a $12.00 price objective on the stock.

FibroBiologics Price Performance

FBLG stock traded down $0.05 during mid-day trading on Monday, hitting $3.14. 29,459 shares of the company were exchanged, compared to its average volume of 274,375. The firm has a fifty day simple moving average of $2.89 and a 200 day simple moving average of $6.81. FibroBiologics has a twelve month low of $1.08 and a twelve month high of $55.00.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). As a group, research analysts anticipate that FibroBiologics will post -0.37 earnings per share for the current fiscal year.

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.