FibroBiologics, Inc. (NASDAQ:FBLG) Short Interest Update

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

FibroBiologics Price Performance

FBLG 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 stock has a 50-day moving average price of $2.77 and a 200-day moving average price of $3.68. FibroBiologics has a 1 year low of $1.08 and a 1 year high of $55.00.

Institutional Investors Weigh In On FibroBiologics

Several large investors have recently modified their holdings of the stock. Fund Evaluation Group LLC acquired a new position in FibroBiologics in the 2nd quarter valued at $5,265,000. Cascade Financial Partners LLC purchased a new position in FibroBiologics during the second quarter worth about $1,572,000. Bank of New York Mellon Corp purchased a new stake in FibroBiologics in the 2nd quarter valued at approximately $342,000. Mercer Global Advisors Inc. ADV acquired a new position in FibroBiologics during the 2nd quarter worth approximately $51,000. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of FibroBiologics during the 2nd quarter worth approximately $176,000.

Analyst Upgrades and Downgrades

FBLG has been the topic of several research reports. Maxim Group began coverage on FibroBiologics in a research note on Tuesday, September 24th. They set a “buy” rating and a $12.00 target price on the stock. Rodman & Renshaw initiated coverage on shares of FibroBiologics in a report on Thursday, December 12th. They issued a “buy” rating and a $12.00 price objective for the company. EF Hutton Acquisition Co. I raised shares of FibroBiologics to a “strong-buy” rating in a research report on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of FibroBiologics in a research report on Wednesday, November 13th. Finally, D. Boral Capital restated a “buy” rating and set a $16.00 price target on shares of FibroBiologics in a report on Wednesday, November 20th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $13.00.

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.