HC Wainwright Expects Stronger Earnings for FibroBiologics

FibroBiologics, Inc. (NASDAQ:FBLG - Free Report) - Stock analysts at HC Wainwright lifted their FY2024 EPS estimates for shares of FibroBiologics in a report issued on Wednesday, November 13th. HC Wainwright analyst M. Caufield now expects that the company will post earnings of ($0.35) per share for the year, up from their prior estimate of ($0.42). HC Wainwright currently has a "Buy" rating and a $12.00 target price on the stock. The consensus estimate for FibroBiologics' current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for FibroBiologics' Q4 2024 earnings at ($0.10) EPS, FY2025 earnings at ($0.46) EPS, FY2026 earnings at ($0.59) EPS, FY2027 earnings at ($0.79) EPS and FY2028 earnings at ($0.77) EPS.

A number of other equities research analysts have also weighed in on FBLG. Maxim Group assumed coverage on FibroBiologics in a research note on Tuesday, September 24th. They issued a "buy" rating and a $12.00 target price for the company. EF Hutton Acquisition Co. I upgraded FibroBiologics to a "strong-buy" rating in a research report on Wednesday, September 4th.

FibroBiologics Stock Performance

FibroBiologics stock traded down $0.23 during mid-day trading on Friday, hitting $2.58. The company's stock had a trading volume of 262,486 shares, compared to its average volume of 258,732. The business has a 50 day moving average price of $3.02 and a 200-day moving average price of $4.98. FibroBiologics has a 12 month low of $1.08 and a 12 month high of $55.00.

Institutional Trading of FibroBiologics

A number of large investors have recently made changes to their positions in FBLG. Fund Evaluation Group LLC purchased a new position in shares of FibroBiologics during the 2nd quarter worth $5,265,000. Cascade Financial Partners LLC purchased a new stake in shares of FibroBiologics in the second quarter worth $1,572,000. Transform Wealth LLC purchased a new position in shares of FibroBiologics during the 2nd quarter valued at $668,000. State Street Corp raised its holdings in FibroBiologics by 26.5% during the third quarter. State Street Corp now owns 475,837 shares of the company's stock valued at $1,470,000 after acquiring an additional 99,789 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of FibroBiologics in the second quarter worth about $342,000.

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.