Fund Evaluation Group LLC Makes New $5.27 Million Investment in FibroBiologics, Inc. (NASDAQ:FBLG)

Fund Evaluation Group LLC acquired a new position in shares of FibroBiologics, Inc. (NASDAQ:FBLG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,055,105 shares of the company’s stock, valued at approximately $5,265,000. FibroBiologics accounts for approximately 0.3% of Fund Evaluation Group LLC’s portfolio, making the stock its 21st largest position. Fund Evaluation Group LLC owned 2.95% of FibroBiologics at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FBLG. Cascade Financial Partners LLC bought a new position in FibroBiologics during the 2nd quarter worth $1,572,000. Transform Wealth LLC bought a new position in FibroBiologics during the 2nd quarter worth $668,000. Bank of New York Mellon Corp bought a new position in FibroBiologics during the 2nd quarter worth $342,000. RMR Wealth Builders bought a new position in FibroBiologics during the 2nd quarter worth $186,000. Finally, Concurrent Investment Advisors LLC bought a new position in FibroBiologics during the 2nd quarter worth $176,000.

Analyst Upgrades and Downgrades

Separately, EF Hutton Acquisition Co. I upgraded FibroBiologics to a “strong-buy” rating in a research note on Wednesday.

FibroBiologics Trading Up 12.4 %

Shares of FBLG traded up $0.23 during midday trading on Friday, hitting $2.09. The company’s stock had a trading volume of 501,200 shares, compared to its average volume of 191,480. FibroBiologics, Inc. has a one year low of $1.08 and a one year high of $55.00. The company’s fifty day simple moving average is $3.36 and its two-hundred day simple moving average is $7.73.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). Equities analysts anticipate that FibroBiologics, Inc. will post -0.37 EPS for the current fiscal year.

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.