FibroBiologics Inc. (NASDAQ:FBLG) Receives $74.00 Consensus Target Price from Brokerages

Shares of FibroBiologics Inc. (NASDAQ:FBLG) have received an average rating of “Reduce” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $73.00.

A number of research analysts have recently issued reports on FBLG shares. Weiss Ratings upgraded shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, July 24th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of FibroBiologics in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut shares of FibroBiologics to an “underperform” rating in a research report on Tuesday. Maxim Group lowered FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Wall Street Zen raised FibroBiologics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th.

Institutional Investors Weigh In On FibroBiologics

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in FibroBiologics by 20.7% during the 4th quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock valued at $78,000 after acquiring an additional 59,813 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in FibroBiologics during the 3rd quarter worth $191,000. Cerity Partners LLC grew its stake in shares of FibroBiologics by 37.2% in the 2nd quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock worth $80,000 after acquiring an additional 34,702 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of FibroBiologics in the 2nd quarter worth $60,000. Finally, Renaissance Technologies LLC raised its holdings in shares of 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.

FibroBiologics Stock Down 4.3%

Shares of FBLG opened at $0.98 on Tuesday. FibroBiologics has a 12-month low of $0.62 and a 12-month high of $12.80. The business’s fifty day moving average is $0.85 and its 200 day moving average is $2.80. The stock has a market cap of $6.50 million, a P/E ratio of -0.19 and a beta of 1.20.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly earnings results on Friday, July 31st. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.27. On average, analysts expect that FibroBiologics will post -3 EPS for the current year.

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.