FibroBiologics (NASDAQ:FBLG) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of FibroBiologics (NASDAQ:FBLG) in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

Several other brokerages have also recently issued reports on FBLG. Rodman & Renshaw started coverage on shares of FibroBiologics in a research report on Thursday, December 12th. They set a “buy” rating and a $12.00 price target on the stock. D. Boral Capital reiterated a “buy” rating and issued a $16.00 price target on shares of FibroBiologics in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $13.00.

FibroBiologics Price Performance

NASDAQ FBLG opened at $0.86 on Tuesday. FibroBiologics has a 1 year low of $0.86 and a 1 year high of $13.59. The business’s 50-day moving average is $1.28 and its 200 day moving average is $2.14.

Hedge Funds Weigh In On FibroBiologics

Institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of FibroBiologics by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 69,732 shares of the company’s stock worth $215,000 after buying an additional 3,451 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of FibroBiologics during the third quarter worth about $32,000. State Street Corp boosted its stake in FibroBiologics by 26.5% in the 3rd quarter. State Street Corp now owns 475,837 shares of the company’s stock worth $1,470,000 after purchasing an additional 99,789 shares during the period. Jane Street Group LLC purchased a new stake in FibroBiologics during the 3rd quarter valued at approximately $37,000. Finally, Barclays PLC lifted its holdings in shares of FibroBiologics by 363.2% in the third quarter. Barclays PLC now owns 39,958 shares of the company’s stock worth $123,000 after buying an additional 31,331 shares in the last quarter.

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.