FibroBiologics Inc. (NASDAQ:FBLG) Stock Short Interest Climbs 60.0%

FibroBiologics Inc. (NASDAQ:FBLG) saw a large increase in short interest in September. As of September 15th, there was short interest totaling 661,912 shares, an increase of 60.0% from the August 31st total of 413,742 shares. Based on an average daily trading volume, of 357,923 shares, the days-to-cover ratio is presently 1.8 days. Currently, 10.7% of the company’s stock are short sold.

FibroBiologics Trading Down 0.8%

NASDAQ:FBLG traded down $0.01 during mid-day trading on Wednesday, hitting $1.30. The company’s stock had a trading volume of 107,272 shares, compared to its average volume of 173,494. The stock has a fifty day moving average of $1.28 and a 200-day moving average of $1.48. The company has a market capitalization of $8.66 million, a price-to-earnings ratio of -0.25 and a beta of 1.65. FibroBiologics has a fifty-two week low of $0.62 and a fifty-two week high of $11.40.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FBLG. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of FibroBiologics in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft downgraded FibroBiologics to an “underperform” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Weiss Ratings raised shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $73.00.

FibroBiologics Company Profile

FibroBiologics, Inc is a clinical-stage biotechnology company developing cell-based therapies for chronic diseases. The company’s research focuses on fibroblasts, a type of cell involved in tissue maintenance and repair, and the biologically active factors and extracellular vesicles that these cells produce.

FibroBiologics is developing a proprietary platform intended to generate therapeutic products from fibroblast-derived cells and their secretions. Its pipeline is aimed at conditions associated with tissue damage, inflammation, and impaired regeneration, including multiple sclerosis, psoriasis, and degenerative disc disease.