FibroBiologics’ (FBLG) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of FibroBiologics (NASDAQ:FBLG) in a report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $12.00 price objective on the stock. HC Wainwright also issued estimates for FibroBiologics’ Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.35) EPS, FY2025 earnings at ($0.46) EPS, FY2026 earnings at ($0.59) EPS, FY2027 earnings at ($0.79) EPS and FY2028 earnings at ($0.77) EPS.

A number of other research analysts have also recently weighed in on the company. EF Hutton Acquisition Co. I upgraded FibroBiologics to a “strong-buy” rating in a research report on Wednesday, September 4th. Maxim Group started coverage on FibroBiologics in a research report on Tuesday, September 24th. They set a “buy” rating and a $12.00 price objective for the company.

FibroBiologics Stock Performance

Shares of FBLG stock opened at $2.58 on Wednesday. FibroBiologics has a fifty-two week low of $1.08 and a fifty-two week high of $55.00. The business has a fifty day simple moving average of $3.03 and a 200-day simple moving average of $4.92.

Institutional Trading of FibroBiologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBLG. Fund Evaluation Group LLC purchased a new stake in FibroBiologics during the 2nd quarter worth about $5,265,000. Cascade Financial Partners LLC acquired a new stake in FibroBiologics in the 2nd quarter worth about $1,572,000. Geode Capital Management LLC boosted its stake in 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 buying an additional 284,047 shares during the last quarter. Transform Wealth LLC acquired a new stake in FibroBiologics in the 2nd quarter worth about $668,000. Finally, State Street Corp boosted its stake in FibroBiologics by 26.5% in the 3rd quarter. State Street Corp now owns 475,837 shares of the company’s stock worth $1,470,000 after buying an additional 99,789 shares during the last quarter.

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.