FibroBiologics Inc. (NASDAQ:FBLG) Short Interest Up 62.6% in July

FibroBiologics Inc. (NASDAQ:FBLG) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 115,200 shares, an increase of 62.6% from the July 15th total of 70,837 shares. Based on an average trading volume of 90,907 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.9% of the company’s shares are sold short.

FibroBiologics Stock Down 3.8%

NASDAQ:FBLG traded down $0.04 during midday trading on Monday, hitting $1.02. The stock had a trading volume of 118,926 shares, compared to its average volume of 249,847. FibroBiologics has a one year low of $0.62 and a one year high of $12.80. The company has a market capitalization of $6.79 million, a price-to-earnings ratio of -0.20 and a beta of 1.20. The stock has a 50-day moving average of $0.85 and a 200 day moving average of $2.51.

FibroBiologics (NASDAQ:FBLG) last issued its 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, sell-side analysts anticipate that FibroBiologics will post -3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FBLG has been the topic of a number of recent analyst reports. Maxim Group lowered FibroBiologics from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen raised shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings raised shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. HC Wainwright restated a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of FibroBiologics in a report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of FibroBiologics to an “underperform” rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, FibroBiologics presently has an average rating of “Reduce” and an average price target of $73.00.

Institutional Trading of FibroBiologics

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in FibroBiologics during the 1st quarter worth about $29,000. XTX Topco Ltd increased its position in FibroBiologics by 160.0% during the 2nd quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock valued at $29,000 after purchasing an additional 28,276 shares during the period. AMG National Trust Bank bought a new stake in shares of FibroBiologics in the 4th quarter valued at about $31,000. Jane Street Group LLC bought a new stake in shares of FibroBiologics in the 4th quarter valued at about $34,000. Finally, Marshall Wace LLP purchased a new stake in shares of FibroBiologics in the 2nd quarter worth approximately $49,000.

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.