FibroBiologics (NASDAQ:FBLG) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of FibroBiologics (NASDAQ:FBLG) in a research report released on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $12.00 price objective on the stock. HC Wainwright also issued estimates for FibroBiologics’ Q3 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.42) EPS, FY2025 earnings at ($0.43) EPS, FY2026 earnings at ($0.54) EPS, FY2027 earnings at ($0.73) EPS and FY2028 earnings at ($0.70) EPS.

Several other equities analysts have also commented on FBLG. EF Hutton Acquisition Co. I upgraded FibroBiologics to a “strong-buy” rating in a research note on Wednesday, September 4th. Maxim Group assumed coverage on FibroBiologics in a research note on Tuesday, September 24th. They issued a “buy” rating and a $12.00 target price for the company.

FibroBiologics Stock Performance

Shares of NASDAQ:FBLG opened at $3.18 on Wednesday. FibroBiologics has a 52-week low of $1.08 and a 52-week high of $55.00. The stock’s fifty day simple moving average is $2.72 and its 200-day simple moving average is $5.44.

FibroBiologics (NASDAQ:FBLG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). On average, equities research analysts anticipate that FibroBiologics will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On FibroBiologics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fund Evaluation Group LLC acquired a new stake in shares of FibroBiologics in the second quarter valued at about $5,265,000. Cascade Financial Partners LLC acquired a new stake in shares of FibroBiologics in the second quarter valued at about $1,572,000. Transform Wealth LLC acquired a new stake in shares of FibroBiologics in the second quarter valued at about $668,000. Bank of New York Mellon Corp acquired a new stake in shares of FibroBiologics in the second quarter valued at about $342,000. Finally, RMR Wealth Builders acquired a new stake in shares of FibroBiologics in the second quarter valued at about $186,000.

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.