Short Interest in FibroBiologics, Inc. (NASDAQ:FBLG) Rises By 21.6%

FibroBiologics, Inc. (NASDAQ:FBLG) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 2,250,000 shares, an increase of 21.6% from the September 15th total of 1,850,000 shares. Based on an average daily volume of 420,300 shares, the short-interest ratio is presently 5.4 days. Currently, 8.4% of the shares of the stock are sold short.

FibroBiologics Trading Up 1.9 %

FBLG stock opened at $2.75 on Wednesday. FibroBiologics has a 12-month low of $1.08 and a 12-month high of $55.00. The business’s 50-day moving average is $2.39 and its 200 day moving average is $6.10.

FibroBiologics (NASDAQ:FBLG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). Research analysts expect that FibroBiologics will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On FibroBiologics

A number of hedge funds have recently modified their holdings of the business. Fund Evaluation Group LLC acquired a new position in shares of FibroBiologics during the 2nd quarter valued at about $5,265,000. Cascade Financial Partners LLC acquired a new stake in shares of FibroBiologics during the 2nd quarter worth approximately $1,572,000. Transform Wealth LLC purchased a new stake in shares of FibroBiologics during the 2nd quarter valued at approximately $668,000. Bank of New York Mellon Corp acquired a new position in FibroBiologics in the second quarter valued at approximately $342,000. Finally, RMR Wealth Builders purchased a new position in FibroBiologics in the second quarter worth approximately $186,000.

Wall Street Analysts Forecast Growth

FBLG has been the topic of several research analyst reports. EF Hutton Acquisition Co. I raised FibroBiologics to a “strong-buy” rating in a report on Wednesday, September 4th. Maxim Group began coverage on shares of FibroBiologics in a report on Tuesday, September 24th. They issued a “buy” rating and a $12.00 price target for the company.

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.