FibroBiologics (NASDAQ:FBLG) Posts Earnings Results, Beats Expectations By $0.27 EPS

FibroBiologics (NASDAQ:FBLG) announced its earnings results on Friday. The company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.27, FiscalAI reports.

FibroBiologics Stock Performance

FibroBiologics stock traded down $0.02 during trading hours on Friday, reaching $0.70. 105,497 shares of the company’s stock traded hands, compared to its average volume of 250,685. The firm has a market capitalization of $4.26 million, a price-to-earnings ratio of -0.10 and a beta of 1.14. FibroBiologics has a fifty-two week low of $0.62 and a fifty-two week high of $13.16. The firm’s 50 day moving average is $0.88 and its 200-day moving average is $3.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FBLG shares. Maxim Group lowered shares of FibroBiologics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of FibroBiologics from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings raised shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, July 24th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 price objective (up from $4.00) on shares of FibroBiologics in a research report on Thursday, April 16th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.00.

Institutional Investors Weigh In On FibroBiologics

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC acquired a new position in FibroBiologics in the first quarter valued at approximately $29,000. XTX Topco Ltd grew its holdings in FibroBiologics by 160.0% during 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 period. Marshall Wace LLP bought a new stake in shares of FibroBiologics during the 2nd quarter valued at $49,000. Cerity Partners LLC raised its position 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 acquiring an additional 34,702 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of FibroBiologics during the 2nd quarter valued at $60,000.

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.