FibroBiologics Inc. (NASDAQ:FBLG) Short Interest Update

FibroBiologics Inc. (NASDAQ:FBLG) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 413,742 shares, an increase of 192.0% from the August 15th total of 141,714 shares. Currently, 6.7% of the company’s shares are sold short. Based on an average daily volume of 294,961 shares, the days-to-cover ratio is presently 1.4 days.

Wall Street Analysts Forecast Growth

FBLG has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of FibroBiologics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft cut shares of FibroBiologics to an “underperform” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded FibroBiologics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price (down from $8.00) on shares of FibroBiologics in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, FibroBiologics has a consensus rating of “Reduce” and a consensus target price of $73.00.

FibroBiologics Trading Down 3.7%

FBLG stock opened at $1.55 on Tuesday. The stock’s 50 day simple moving average is $1.15 and its 200 day simple moving average is $1.98. FibroBiologics has a 12-month low of $0.62 and a 12-month high of $12.40. The stock has a market capitalization of $10.32 million, a PE ratio of -0.30 and a beta of 1.65.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly earnings results on Friday, July 31st. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.93) by $0.27. On average, research analysts predict that FibroBiologics will post -3 earnings per share for the current year.

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.