FibroBiologics (NASDAQ:FBLG) Coverage Initiated at HC Wainwright

HC Wainwright began coverage on shares of FibroBiologics (NASDAQ:FBLG) in a report released on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $12.00 price objective on the stock.

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

FibroBiologics Trading Up 7.3 %

Shares of FibroBiologics stock opened at $2.95 on Wednesday. The business’s fifty day moving average price is $2.66 and its 200 day moving average price is $5.51. FibroBiologics has a twelve month low of $1.08 and a twelve month high of $55.00.

FibroBiologics (NASDAQ:FBLG) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). On average, research analysts predict that FibroBiologics will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fund Evaluation Group LLC acquired a new stake in FibroBiologics during the 2nd quarter valued at $5,265,000. Cascade Financial Partners LLC acquired a new stake in shares of FibroBiologics during the second quarter valued at about $1,572,000. Transform Wealth LLC purchased a new stake in shares of FibroBiologics during the second quarter worth about $668,000. Bank of New York Mellon Corp acquired a new position in shares of FibroBiologics in the second quarter worth about $342,000. Finally, RMR Wealth Builders purchased a new position in FibroBiologics in the second 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.