FibroBiologics Inc. (NASDAQ:FBLG) Stock Short Interest Report for October

FibroBiologics Inc. (NASDAQ:FBLG) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 330,551 shares, a drop of 36.7% from the September 30th total of 522,114 shares. Based on an average daily volume of 140,541 shares, the days-to-cover ratio is currently 2.4 days. Approximately 5.4% of the company’s stock are short sold.

FibroBiologics Price Performance

FBLG stock traded up $0.01 during trading hours on Monday, reaching $0.94. The stock had a trading volume of 2,534 shares, compared to its average volume of 238,242. The stock has a 50-day simple moving average of $1.31 and a 200 day simple moving average of $2.43. FibroBiologics has a fifty-two week low of $0.62 and a fifty-two week high of $9.60. The stock has a market capitalization of $6.23 million, a PE ratio of -0.18 and a beta of 1.82.

FibroBiologics (NASDAQ:FBLG) last issued its earnings results on Friday, July 31st. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.27. On average, sell-side analysts forecast that FibroBiologics will post -3.00 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in FibroBiologics stock. IFP Advisors Inc purchased a new stake in FibroBiologics Inc. (NASDAQ:FBLG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 27,000 shares of the company’s stock, valued at approximately $35,000. IFP Advisors Inc owned 0.41% of FibroBiologics as of its most recent SEC filing.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FBLG shares. Weiss Ratings upgraded FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft downgraded FibroBiologics to an “underperform” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded shares of FibroBiologics to a “hold” rating in a report on Saturday, October 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 price objective (down from $8.00) on shares of FibroBiologics in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $73.00.

FibroBiologics Company Profile

FibroBiologics, Inc is a clinical-stage biotechnology company developing cell-based therapies for chronic diseases. Its research focuses on fibroblasts, connective-tissue cells that may support tissue repair and influence immune-system activity, as well as biologically active materials derived from these cells.

The company is developing a platform that includes fibroblast-based cell therapies and fibroblast-derived extracellular vesicles. These potential treatments are intended to address conditions involving chronic inflammation, immune dysfunction, and tissue damage.