Jason Davis Buys 70,000 Shares of FibroBiologics (NASDAQ:FBLG) Stock

FibroBiologics Inc. (NASDAQ:FBLG) CFO Jason Davis purchased 70,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average price of $0.41 per share, for a total transaction of $28,700.00. Following the transaction, the chief financial officer directly owned 70,000 shares in the company, valued at $28,700. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

FibroBiologics Trading Down 3.5%

FibroBiologics stock opened at $0.38 on Thursday. The stock has a 50 day moving average of $0.30 and a two-hundred day moving average of $0.38. FibroBiologics Inc. has a twelve month low of $0.22 and a twelve month high of $1.53. The stock has a market capitalization of $25.40 million, a price-to-earnings ratio of -0.89 and a beta of -0.69.

FibroBiologics (NASDAQ:FBLG) last released its earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. Equities analysts predict that FibroBiologics Inc. will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On FibroBiologics

A number of institutional investors and hedge funds have recently made changes to their positions in FBLG. Ethos Financial Group LLC increased its holdings in shares of FibroBiologics by 100.0% in the 2nd quarter. Ethos Financial Group LLC now owns 48,848 shares of the company’s stock valued at $30,000 after purchasing an additional 24,424 shares in the last quarter. XTX Topco Ltd boosted its holdings in FibroBiologics by 160.0% during the second quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock worth $29,000 after buying an additional 28,276 shares in the last quarter. Cascade Financial Partners LLC grew its position in FibroBiologics by 11.7% during the second quarter. Cascade Financial Partners LLC now owns 290,581 shares of the company’s stock worth $181,000 after buying an additional 30,500 shares during the period. AQR Capital Management LLC purchased a new position in FibroBiologics in the first quarter valued at about $29,000. Finally, Cerity Partners LLC increased its holdings in FibroBiologics by 37.2% in the second quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock valued at $80,000 after buying an additional 34,702 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on FBLG. HC Wainwright reduced their target price on shares of FibroBiologics to $4.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. D. Boral Capital dropped their price target on shares of FibroBiologics from $15.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of FibroBiologics in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, FibroBiologics currently has an average rating of “Hold” and an average target price of $5.50.

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. FibroBiologics, Inc was incorporated in 2021 and is based in Houston, Texas.