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

FibroBiologics, Inc. (NASDAQ:FBLG) was the recipient of a significant growth in short interest in 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. Approximately 5.6% of the company’s stock are short sold. Based on an average daily volume of 418,700 shares, the short-interest ratio is presently 3.6 days.

Wall Street Analyst Weigh In

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

Institutional Trading of FibroBiologics

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

FibroBiologics Stock Up 9.2 %

FBLG stock traded up $0.30 during trading on Monday, reaching $3.56. 682,334 shares of the company were exchanged, compared to its average volume of 258,172. FibroBiologics has a 52-week low of $1.08 and a 52-week high of $55.00. The stock’s 50 day moving average price is $3.26 and its 200 day moving average price is $7.37.

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