FibroBiologics (NASDAQ:FBLG) Issues Quarterly Earnings Results

FibroBiologics (NASDAQ:FBLG) posted its earnings results on Monday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01, Zacks reports.

FibroBiologics Price Performance

FBLG stock traded up $0.04 during midday trading on Wednesday, reaching $0.90. The company’s stock had a trading volume of 47,686 shares, compared to its average volume of 287,611. The business’s 50-day simple moving average is $1.28 and its 200-day simple moving average is $2.14. FibroBiologics has a 52 week low of $0.86 and a 52 week high of $13.59.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FBLG shares. D. Boral Capital reiterated a “buy” rating and issued a $16.00 price objective on shares of FibroBiologics in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of FibroBiologics in a research report on Tuesday. Finally, Rodman & Renshaw started coverage on shares of FibroBiologics in a research report on Thursday, December 12th. They issued a “buy” rating and a $12.00 price objective for the company. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $13.00.

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.