FibroBiologics (NASDAQ:FBLG) Issues Earnings Results

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

FibroBiologics Stock Performance

Shares of FBLG stock traded up $0.03 during mid-day trading on Wednesday, hitting $0.89. The company’s stock had a trading volume of 22,039 shares, compared to its average volume of 275,434. FibroBiologics has a 52 week low of $0.86 and a 52 week high of $13.59. The company’s fifty day simple moving average is $1.28 and its 200-day simple moving average is $2.14.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FBLG. Rodman & Renshaw assumed coverage on shares of FibroBiologics in a report on Thursday, December 12th. They issued a “buy” rating and a $12.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of FibroBiologics in a report on Tuesday. Finally, D. Boral Capital reissued a “buy” rating and issued a $16.00 price objective on shares of FibroBiologics in a research note on Tuesday. 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, FibroBiologics has an average rating of “Buy” and a consensus 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.