FibroBiologics Inc. (NASDAQ:FBLG) Stock Has Average Price Target of $73.00 According to Brokerages

FibroBiologics Inc. (NASDAQ:FBLG) has been assigned an average rating of “Reduce” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $73.00.

Several equities research analysts have recently commented on FBLG shares. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price (down from $8.00) on shares of FibroBiologics in a research report on Tuesday, August 4th. Wall Street Zen raised shares of FibroBiologics to a “hold” rating in a research note on Saturday, October 10th. Deutsche Bank Aktiengesellschaft cut shares of FibroBiologics to an “underperform” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, September 4th.

Institutional Trading of FibroBiologics

A hedge fund recently bought a new position in FibroBiologics stock. IFP Advisors Inc bought a new position in shares of FibroBiologics Inc. (NASDAQ:FBLG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 27,000 shares of the company’s stock, valued at approximately $35,000. IFP Advisors Inc owned 0.41% of FibroBiologics as of its most recent filing with the Securities and Exchange Commission.

FibroBiologics Stock Down 6.9%

Shares of FBLG opened at $0.95 on Friday. The business’s fifty day moving average is $1.34 and its 200 day moving average is $1.14. FibroBiologics has a 12-month low of $0.62 and a 12-month high of $9.60. The stock has a market cap of $6.33 million, a P/E ratio of -0.18 and a beta of 1.72.

FibroBiologics (NASDAQ:FBLG) last issued its quarterly earnings data on Friday, July 31st. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.27. On average, analysts expect that FibroBiologics will post -3.00 EPS for the current year.

About FibroBiologics

FibroBiologics, Inc (NASDAQ:FBLG) is a clinical-stage biotechnology company developing cell-based and cell-free therapies for chronic diseases. The company’s research centers on fibroblasts, a type of connective-tissue cell, and the biologically active materials they produce, including exosomes and other factors that may influence immune responses, tissue repair, and regeneration.

FibroBiologics is investigating its platform for potential applications in conditions such as psoriasis, multiple sclerosis, and degenerative disc disease.