HC Wainwright Begins Coverage on FibroBiologics (NASDAQ:FBLG)

HC Wainwright started 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 target price on the stock. HC Wainwright also issued estimates for FibroBiologics’ Q3 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.42) EPS, FY2025 earnings at ($0.43) EPS, FY2026 earnings at ($0.54) EPS, FY2027 earnings at ($0.73) EPS and FY2028 earnings at ($0.70) EPS.

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

FibroBiologics Stock Performance

Shares of FBLG stock opened at $3.18 on Wednesday. FibroBiologics has a one year low of $1.08 and a one year high of $55.00. The company’s fifty day moving average price is $2.72 and its 200-day moving average price is $5.40.

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). Equities research analysts predict that FibroBiologics will post -0.37 EPS for the current fiscal year.

Institutional Trading of FibroBiologics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Symphony Financial Ltd. Co. bought a new stake in FibroBiologics in the 3rd quarter valued at $76,000. Mercer Global Advisors Inc. ADV bought a new stake in FibroBiologics in the 2nd quarter valued at $51,000. Fund Evaluation Group LLC bought a new stake in FibroBiologics in the 2nd quarter valued at $5,265,000. Cahaba Wealth Management Inc. bought a new stake in FibroBiologics in the 2nd quarter valued at $73,000. Finally, Rhumbline Advisers bought a new stake in shares of FibroBiologics in the 2nd quarter worth about $115,000.

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.