FibroBiologics, Inc. (NASDAQ:FBLG) Short Interest Up 33.9% in August

FibroBiologics, Inc. (NASDAQ:FBLG) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,500,000 shares, a growth of 33.9% from the August 15th total of 1,120,000 shares. Currently, 5.6% of the shares of the company are short sold. Based on an average daily volume of 418,700 shares, the short-interest ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

Separately, EF Hutton Acquisition Co. I upgraded shares of FibroBiologics to a “strong-buy” rating in a research report on Wednesday, September 4th.

Hedge Funds Weigh In On FibroBiologics

A number of institutional investors have recently added to or reduced their stakes in FBLG. Fund Evaluation Group LLC acquired a new stake in shares of FibroBiologics during the second quarter valued at about $5,265,000. Cascade Financial Partners LLC acquired a new position in FibroBiologics in the 2nd quarter valued at approximately $1,572,000. Transform Wealth LLC bought a new position in shares of FibroBiologics during the second quarter valued at $668,000. Bank of New York Mellon Corp acquired a new stake in FibroBiologics in the second quarter valued at $342,000. Finally, RMR Wealth Builders acquired a new position in FibroBiologics during the 2nd quarter worth about $186,000.

FibroBiologics Trading Down 0.3 %

Shares of FBLG stock traded down $0.01 during trading hours on Monday, reaching $3.25. The company’s stock had a trading volume of 819,030 shares, compared to its average volume of 259,040. FibroBiologics has a fifty-two week low of $1.08 and a fifty-two week high of $55.00. The firm’s 50 day simple moving average is $3.26 and its 200-day simple moving average is $7.37.

FibroBiologics (NASDAQ:FBLG) last issued its earnings results on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). Equities analysts predict that FibroBiologics will post -0.37 EPS for the current fiscal year.

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.