FibroBiologics (NASDAQ:FBLG) Releases Earnings Results, Misses Estimates By $0.07 EPS

FibroBiologics (NASDAQ:FBLG) issued its quarterly earnings data on Thursday. The company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.26) by ($0.07), Zacks reports.

FibroBiologics Stock Down 4.4%

Shares of NASDAQ FBLG traded down $0.06 during mid-day trading on Friday, reaching $1.26. 21,311 shares of the company were exchanged, compared to its average volume of 276,822. FibroBiologics has a 52 week low of $1.03 and a 52 week high of $22.60. The company’s 50 day moving average price is $3.89 and its 200 day moving average price is $5.48. The stock has a market capitalization of $4.43 million, a PE ratio of -0.15 and a beta of 1.07.

Insider Buying and Selling

In other news, CFO Jason Davis purchased 3,500 shares of the stock in a transaction on Monday, March 2nd. The shares were acquired at an average price of $8.20 per share, for a total transaction of $28,700.00. Following the completion of the transaction, the chief financial officer directly owned 3,500 shares of the company’s stock, valued at approximately $28,700. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders acquired a total of 9,574 shares of company stock valued at $72,886 over the last quarter. 13.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FibroBiologics

Institutional investors have recently modified their holdings of the company. XTX Topco Ltd lifted its holdings in shares of FibroBiologics by 160.0% in the 2nd quarter. XTX Topco Ltd now owns 45,945 shares of the company’s stock worth $29,000 after acquiring an additional 28,276 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of FibroBiologics during the 1st quarter valued at $29,000. Cerity Partners LLC grew its holdings in shares of FibroBiologics by 37.2% during the 2nd quarter. Cerity Partners LLC now owns 128,109 shares of the company’s stock valued at $80,000 after purchasing an additional 34,702 shares during the last quarter. Geode Capital Management LLC raised its position in FibroBiologics by 20.7% in the 4th quarter. Geode Capital Management LLC now owns 348,761 shares of the company’s stock worth $78,000 after purchasing an additional 59,813 shares during the period. Finally, Marshall Wace LLP bought a new stake in FibroBiologics in the second quarter worth $49,000.

Wall Street Analyst Weigh In

FBLG has been the subject of several analyst reports. D. Boral Capital reissued a “hold” rating on shares of FibroBiologics in a report on Thursday, March 26th. HC Wainwright reissued a “buy” rating and set a $8.00 price objective (up from $4.00) on shares of FibroBiologics in a research note on Thursday, April 16th. Weiss Ratings restated a “sell (e+)” rating on shares of FibroBiologics in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded FibroBiologics to a “sell” rating in a research note on Saturday, April 4th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.00.

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.