FibroBiologics, Inc. (NASDAQ:FBLG) Short Interest Update

FibroBiologics, Inc. (NASDAQ:FBLG - Get Free Report) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 2,700,000 shares, an increase of 6.7% from the November 15th total of 2,530,000 shares. Currently, 10.2% of the company's stock are short sold. Based on an average trading volume of 376,500 shares, the days-to-cover ratio is presently 7.2 days.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Maxim Group began coverage on shares of FibroBiologics in a research note on Tuesday, September 24th. They issued a "buy" rating and a $12.00 price target on the stock. Rodman & Renshaw started coverage on shares of FibroBiologics in a research note on Thursday, December 12th. They set a "buy" rating and a $12.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $12.00 price target on shares of FibroBiologics in a research report on Wednesday, November 13th. D. Boral Capital reaffirmed a "buy" rating and set a $16.00 price objective on shares of FibroBiologics in a report on Wednesday, November 20th. Finally, EF Hutton Acquisition Co. I raised FibroBiologics to a "strong-buy" rating in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $13.00.

Hedge Funds Weigh In On FibroBiologics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fund Evaluation Group LLC acquired a new position in FibroBiologics in the 2nd quarter valued at $5,265,000. Cascade Financial Partners LLC acquired a new position in shares of FibroBiologics during the second quarter worth about $1,572,000. Bank of New York Mellon Corp purchased a new position in FibroBiologics during the second quarter worth about $342,000. Mercer Global Advisors Inc. ADV purchased a new position in FibroBiologics during the second quarter worth about $51,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in FibroBiologics in the second quarter valued at about $176,000.

FibroBiologics Stock Down 0.5 %

FBLG stock traded down $0.01 on Tuesday, hitting $2.15. The company's stock had a trading volume of 126,416 shares, compared to its average volume of 246,959. FibroBiologics has a 1 year low of $1.08 and a 1 year high of $55.00. The firm has a 50 day moving average of $2.77 and a two-hundred day moving average of $3.68.

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.

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