FibroBiologics, Inc. (NASDAQ:FBLG) Sees Large Increase in Short Interest

FibroBiologics, Inc. (NASDAQ:FBLG) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 2,700,000 shares, an increase of 6.7% from the November 15th total of 2,530,000 shares. Currently, 10.2% of the shares of the stock are short sold. Based on an average trading volume of 376,500 shares, the days-to-cover ratio is presently 7.2 days.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. EF Hutton Acquisition Co. I upgraded shares of FibroBiologics to a “strong-buy” rating in a research report on Wednesday, September 4th. Maxim Group started coverage on FibroBiologics in a report on Tuesday, September 24th. They set a “buy” rating and a $12.00 price objective for the company. Rodman & Renshaw assumed coverage on FibroBiologics in a report on Thursday, December 12th. They issued a “buy” rating and a $12.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of FibroBiologics in a research report on Wednesday, November 13th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $16.00 price objective on shares of FibroBiologics in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $13.00.

Institutional Trading of FibroBiologics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new position in shares of FibroBiologics during the third quarter valued at approximately $32,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of FibroBiologics during the 2nd quarter worth $51,000. Jane Street Group LLC acquired a new stake in shares of FibroBiologics during the third quarter worth $37,000. Cahaba Wealth Management Inc. purchased a new stake in shares of FibroBiologics in the second quarter valued at $73,000. Finally, Rhumbline Advisers acquired a new position in FibroBiologics in the second quarter valued at $115,000.

FibroBiologics Price Performance

FBLG stock traded down $0.01 on Tuesday, reaching $2.15. The company had a trading volume of 126,416 shares, compared to its average volume of 246,959. The company’s fifty day moving average is $2.77 and its 200 day moving average is $3.68. FibroBiologics has a 1 year low of $1.08 and a 1 year high of $55.00.

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.