FibroBiologics’ (FBLG) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of FibroBiologics (NASDAQ:FBLG) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $12.00 target price on the stock. HC Wainwright also issued estimates for FibroBiologics’ Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.35) EPS, FY2025 earnings at ($0.46) EPS, FY2026 earnings at ($0.59) EPS, FY2027 earnings at ($0.79) EPS and FY2028 earnings at ($0.77) EPS.

Several other brokerages also recently weighed in on FBLG. Maxim Group began coverage on FibroBiologics in a research report on Tuesday, September 24th. They set a “buy” rating and a $12.00 price target on the stock. EF Hutton Acquisition Co. I raised FibroBiologics to a “strong-buy” rating in a report on Wednesday, September 4th.

FibroBiologics Stock Performance

Shares of NASDAQ FBLG opened at $2.58 on Wednesday. The company has a 50 day simple moving average of $3.03 and a two-hundred day simple moving average of $4.92. FibroBiologics has a 12 month low of $1.08 and a 12 month high of $55.00.

Institutional Trading of FibroBiologics

Hedge funds have recently added to or reduced their stakes in the company. Fund Evaluation Group LLC acquired a new position in shares of FibroBiologics in the second quarter worth about $5,265,000. Cascade Financial Partners LLC acquired a new position in FibroBiologics in the 2nd quarter worth about $1,572,000. ERn Financial LLC purchased a new position in FibroBiologics during the second quarter worth approximately $159,000. Bank of New York Mellon Corp acquired a new stake in FibroBiologics in the second quarter valued at approximately $342,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of FibroBiologics in the second quarter valued at approximately $51,000.

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.