FibroBiologics, Inc. (NASDAQ:FBLG) Sees Significant Growth in Short Interest

by · The Cerbat Gem

FibroBiologics, Inc. (NASDAQ:FBLG – Get Free Report) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 2,250,000 shares, a growth of 21.6% from the September 15th total of 1,850,000 shares. Based on an average daily trading volume, of 420,300 shares, the days-to-cover ratio is presently 5.4 days. Currently, 8.4% of the company’s stock are sold short.

FibroBiologics Stock Performance

Shares of FBLG stock traded up $0.03 on Monday, hitting $2.63. 3,932 shares of the stock traded hands, compared to its average volume of 266,411. The company’s fifty day moving average is $2.44 and its 200 day moving average is $6.22. FibroBiologics has a 1-year low of $1.08 and a 1-year high of $55.00.

FibroBiologics (NASDAQ:FBLG – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). As a group, equities research analysts predict that FibroBiologics will post -0.37 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FBLG shares. EF Hutton Acquisition Co. I raised shares of FibroBiologics to a “strong-buy” rating in a research report on Wednesday, September 4th. Maxim Group started coverage on FibroBiologics in a research note on Tuesday, September 24th. They set a “buy” rating and a $12.00 price objective on the stock.

View Our Latest Report on FBLG

Institutional Investors Weigh In On FibroBiologics

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

About FibroBiologics

(Get Free Report)

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.

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