FibroBiologics, Inc. (NASDAQ:FBLG – Get Free Report) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,850,000 shares, a growth of 23.3% from the August 31st total of 1,500,000 shares. Approximately 6.9% of the company’s shares are sold short. Based on an average daily volume of 493,100 shares, the days-to-cover ratio is currently 3.8 days.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Fund Evaluation Group LLC acquired a new position in shares of FibroBiologics in the 2nd quarter valued at approximately $5,265,000. Cascade Financial Partners LLC acquired a new stake in FibroBiologics in the second quarter valued at $1,572,000. Transform Wealth LLC bought a new position in FibroBiologics during the 2nd quarter valued at $668,000. Bank of New York Mellon Corp acquired a new position in FibroBiologics during the 2nd quarter worth $342,000. Finally, RMR Wealth Builders bought a new stake in shares of FibroBiologics in the 2nd quarter worth about $186,000.
FibroBiologics Price Performance
Shares of FBLG stock opened at $3.35 on Monday. The stock has a 50 day simple moving average of $2.89 and a 200-day simple moving average of $6.81. FibroBiologics has a 12-month low of $1.08 and a 12-month high of $55.00.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on FBLG shares. Maxim Group started coverage on FibroBiologics in a report on Tuesday, September 24th. They set a “buy” rating and a $12.00 target price for the company. EF Hutton Acquisition Co. I upgraded shares of FibroBiologics to a “strong-buy” rating in a research note on Wednesday, September 4th.
Check Out Our Latest Analysis on FBLG
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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