FibroBiologics (NASDAQ:FBLG) Now Covered by HC Wainwright

HC Wainwright initiated coverage on shares of FibroBiologics (NASDAQ:FBLG) in a research note published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $12.00 price target on the stock.

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

FibroBiologics Stock Up 7.3 %

Shares of NASDAQ:FBLG opened at $2.95 on Wednesday. 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 $2.66 and its 200-day simple moving average is $5.51.

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

Institutional Trading of FibroBiologics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV purchased a new position in shares of FibroBiologics during the 2nd quarter worth $51,000. Cahaba Wealth Management Inc. purchased a new position in FibroBiologics during the second quarter worth about $73,000. Symphony Financial Ltd. Co. purchased a new position in FibroBiologics during the third quarter worth about $76,000. Saxon Interests Inc. acquired a new stake in FibroBiologics in the 2nd quarter worth about $106,000. Finally, Rhumbline Advisers purchased a new stake in FibroBiologics in the 2nd quarter valued at about $115,000.

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.