FibroBiologics, Inc. (NASDAQ:FBLG) Sees Large Growth in Short Interest

FibroBiologics, Inc. (NASDAQ:FBLG) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 2,700,000 shares, a growth of 6.7% from the November 15th total of 2,530,000 shares. Based on an average trading volume of 376,500 shares, the short-interest ratio is presently 7.2 days. Approximately 10.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On FibroBiologics

A number of hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in shares of FibroBiologics by 363.2% in the third quarter. Barclays PLC now owns 39,958 shares of the company’s stock valued at $123,000 after buying an additional 31,331 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of FibroBiologics by 90.0% in the 3rd quarter. Geode Capital Management LLC now owns 599,760 shares of the company’s stock worth $1,854,000 after acquiring an additional 284,047 shares during the last quarter. Jane Street Group LLC bought a new position in FibroBiologics in the 3rd quarter valued at about $37,000. State Street Corp boosted its stake in FibroBiologics by 26.5% during the 3rd quarter. State Street Corp now owns 475,837 shares of the company’s stock valued at $1,470,000 after purchasing an additional 99,789 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of FibroBiologics in the third quarter worth approximately $32,000.

Analysts Set New Price Targets

Several equities analysts have issued reports on FBLG shares. Rodman & Renshaw began coverage on FibroBiologics in a research report on Thursday, December 12th. They issued a “buy” rating and a $12.00 price objective for the company. Maxim Group began coverage on shares of FibroBiologics in a research report on Tuesday, September 24th. They issued a “buy” rating and a $12.00 price objective on the stock. EF Hutton Acquisition Co. I raised shares of FibroBiologics to a “strong-buy” rating in a research note on Wednesday, September 4th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of FibroBiologics in a report on Wednesday, November 13th. Finally, D. Boral Capital restated a “buy” rating and issued a $16.00 price target on shares of FibroBiologics in a research note on Wednesday, November 20th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $13.00.

FibroBiologics Stock Down 0.5 %

FBLG traded down $0.01 during midday trading on Tuesday, hitting $2.15. 126,416 shares of the company were exchanged, compared to its average volume of 246,959. The firm’s 50 day moving average price is $2.77 and its 200-day moving average price is $3.68. FibroBiologics has a 1-year low of $1.08 and a 1-year high of $55.00.

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.