EF Hutton Acquisition Co. I Upgrades FibroBiologics (NASDAQ:FBLG) to “Strong-Buy”

FibroBiologics (NASDAQ:FBLG) was upgraded by investment analysts at EF Hutton Acquisition Co. I to a “strong-buy” rating in a research report issued on Wednesday, Zacks.com reports.

FibroBiologics Price Performance

Shares of FibroBiologics stock opened at $1.86 on Wednesday. The business has a 50-day moving average price of $3.42 and a 200 day moving average price of $7.84. FibroBiologics has a fifty-two week low of $1.08 and a fifty-two week high of $55.00.

Hedge Funds Weigh In On FibroBiologics

Large investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of FibroBiologics during the second quarter worth $51,000. Fund Evaluation Group LLC acquired a new stake in FibroBiologics during the second quarter worth about $5,265,000. Cahaba Wealth Management Inc. acquired a new stake in FibroBiologics during the second quarter worth about $73,000. Rhumbline Advisers bought a new position in FibroBiologics in the second quarter worth about $115,000. Finally, Cascade Financial Partners LLC acquired a new position in FibroBiologics in the second quarter valued at approximately $1,572,000.

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.