Maxim Group Begins Coverage on FibroBiologics (NASDAQ:FBLG)

Maxim Group initiated coverage on shares of FibroBiologics (NASDAQ:FBLG) in a report released on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $12.00 target price on the stock.

Separately, EF Hutton Acquisition Co. I raised shares of FibroBiologics to a strong-buy rating in a research note on Wednesday, September 4th.

FibroBiologics Stock Up 1.6 %

Shares of FibroBiologics stock opened at $3.19 on Tuesday. The company has a 50 day moving average price of $2.91 and a 200 day moving average price of $6.94. FibroBiologics has a 52 week low of $1.08 and a 52 week high of $55.00.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). On average, equities analysts predict that FibroBiologics will post -0.37 EPS for the current year.

Institutional Investors Weigh In On FibroBiologics

A number of institutional investors have recently added to or reduced their stakes in the stock. Fund Evaluation Group LLC purchased a new position in FibroBiologics in the 2nd quarter valued at $5,265,000. Cascade Financial Partners LLC purchased a new stake in FibroBiologics in the 2nd quarter valued at about $1,572,000. Transform Wealth LLC purchased a new stake in FibroBiologics in the 2nd quarter valued at about $668,000. Bank of New York Mellon Corp purchased a new stake in FibroBiologics in the 2nd quarter valued at about $342,000. Finally, RMR Wealth Builders purchased a new stake in FibroBiologics in the 2nd quarter valued at about $186,000.

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.