FibroBiologics (NASDAQ:FBLG) Trading Up 5.7% – Time to Buy?

FibroBiologics Inc. (NASDAQ:FBLG) was up 5.7% on Wednesday . The company traded as high as $1.12 and last traded at $1.12. Approximately 104,970 shares were traded during trading, a decline of 71% from the average daily volume of 359,692 shares. The stock had previously closed at $1.06.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FBLG shares. Wall Street Zen upgraded FibroBiologics to a “sell” rating in a research report on Saturday, April 4th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective (up from $4.00) on shares of FibroBiologics in a report on Thursday, April 16th. D. Boral Capital reiterated a “hold” rating on shares of FibroBiologics in a report on Thursday, March 26th. Maxim Group downgraded FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of FibroBiologics in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.00.

FibroBiologics Price Performance

The company has a market capitalization of $6.04 million, a P/E ratio of -0.17 and a beta of 1.16. The company has a 50 day moving average of $1.88 and a 200-day moving average of $4.57.

FibroBiologics (NASDAQ:FBLG) last posted its earnings results on Thursday, April 30th. The company reported ($1.33) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.33). Research analysts predict that FibroBiologics Inc. will post -4.41 EPS for the current fiscal year.

Insider Activity

In other FibroBiologics news, CFO Jason Davis bought 3,500 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average cost of $8.20 per share, with a total value of $28,700.00. Following the completion of the purchase, the chief financial officer directly owned 3,500 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 filing with the SEC, which is available at this link. Insiders bought 7,574 shares of company stock valued at $59,686 over the last quarter. 9.30% of the stock is owned by company insiders.

Institutional Trading of FibroBiologics

Several large investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in shares of FibroBiologics in the fourth quarter worth about $34,000. Renaissance Technologies LLC grew its stake in shares of FibroBiologics by 287.3% in the fourth quarter. Renaissance Technologies LLC now owns 231,600 shares of the company’s stock worth $52,000 after purchasing an additional 171,800 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of FibroBiologics by 20.7% in 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 during the last quarter. AMG National Trust Bank bought a new stake in FibroBiologics during the 4th quarter valued at approximately $31,000. Finally, Yorkville Advisors Global LP bought a new stake in FibroBiologics during the 3rd quarter valued at approximately $278,000.

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.