Short Interest in FibroBiologics, Inc. (NASDAQ:FBLG) Increases By 7.2%

FibroBiologics, Inc. (NASDAQ:FBLG) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 2,530,000 shares, an increase of 7.2% from the October 31st total of 2,360,000 shares. Based on an average daily trading volume, of 402,500 shares, the short-interest ratio is currently 6.3 days. Currently, 9.4% of the shares of the company are short sold.

Institutional Investors Weigh In On FibroBiologics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fund Evaluation Group LLC purchased a new stake in shares of FibroBiologics in the second quarter worth $5,265,000. Geode Capital Management LLC increased its stake in FibroBiologics by 90.0% in the 3rd quarter. Geode Capital Management LLC now owns 599,760 shares of the company’s stock worth $1,854,000 after buying an additional 284,047 shares in the last quarter. State Street Corp raised its holdings in FibroBiologics by 26.5% during the third quarter. State Street Corp now owns 475,837 shares of the company’s stock valued at $1,470,000 after acquiring an additional 99,789 shares during the period. Cascade Financial Partners LLC purchased a new position in shares of FibroBiologics in the second quarter valued at about $1,572,000. Finally, Transform Wealth LLC bought a new position in shares of FibroBiologics in the second quarter worth about $668,000.

FibroBiologics Stock Down 4.1 %

FBLG stock opened at $2.60 on Wednesday. The business’s 50-day moving average price is $2.87 and its 200-day moving average price is $4.26. FibroBiologics has a twelve month low of $1.08 and a twelve month high of $55.00.

Analyst Ratings Changes

A number of research firms recently commented on FBLG. EF Hutton Acquisition Co. I upgraded FibroBiologics to a “strong-buy” rating in a research report on Wednesday, September 4th. Maxim Group began coverage on shares of FibroBiologics in a research note on Tuesday, September 24th. They issued a “buy” rating and a $12.00 price objective on the stock. D. Boral Capital reissued a “buy” rating and issued a $16.00 price objective on shares of FibroBiologics in a report on Wednesday, November 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of FibroBiologics in a report on Wednesday, November 13th.

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.