Short Interest in FibroBiologics, Inc. (NASDAQ:FBLG) Grows By 23.3%

FibroBiologics, Inc. (NASDAQ:FBLG) 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.

FibroBiologics (NASDAQ:FBLG) last announced its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). Sell-side analysts expect that FibroBiologics will post -0.37 earnings per share for the current year.

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.

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.