Investment firm D. Boral Capital has reaffirmed its “buy” rating for FibroBiologics (NASDAQ: FBLG) in a research note issued to investors on Tuesday. The firm has set a price target of $15.00 per share for the biotech company, which focuses on developing regenerative medicine solutions. This positive outlook comes amidst a mix of other ratings from various analysts, indicating a diverse perspective on the stock’s potential.
Recently, other equities research analysts have weighed in on FibroBiologics. Weiss Ratings maintained a “sell (e+)” rating on the company on October 8, 2023, while HC Wainwright also reiterated a “buy” rating, but with a lower price target of $5.00. Overall, two analysts have rated the stock as a “buy,” while one has issued a “sell” rating. According to data from MarketBeat.com, FibroBiologics currently has an average rating of “hold” and an average target price of $10.00.
Quarterly Earnings and Insider Activity
FibroBiologics reported its quarterly earnings on October 31, 2023, revealing a loss of ($0.13) earnings per share, which fell short of analysts’ consensus estimate of ($0.10) by $0.03. Analysts predict that the company will post an earnings per share of ($0.53) for the current fiscal year.
In related news, insider trading activity has also caught attention. General Counsel Ruben A. Garcia acquired 140,000 shares of the company on December 11, 2023, at an average price of $0.34 per share, totaling approximately $47,600. This purchase increased Garcia’s ownership in the company significantly. Corporate insiders currently hold 13.00% of FibroBiologics’ stock.
Institutional Investment Activity
Recent fluctuations in institutional investment have also influenced the stock’s dynamics. Ethos Financial Group LLC doubled its holdings in FibroBiologics during the second quarter, now owning 48,848 shares valued at $30,000. Similarly, XTX Topco Ltd increased its stake by 160.0%, bringing its total to 45,945 shares, worth $29,000.
Other notable institutional investors include Cascade Financial Partners LLC, which raised its position by 11.7%, and AQR Capital Management LLC, which acquired a new position valued at $29,000. Cerity Partners LLC also boosted its holdings by 37.2% during the same period.
About FibroBiologics
Founded in 2021 and based in Houston, Texas, FibroBiologics focuses on cell therapy and regenerative medicine. The company is developing a pipeline of treatments aimed at chronic diseases through the use of fibroblast cells and derived materials. It holds over 150 issued patents and patents pending in the United States and internationally, covering various clinical pathways, including those related to disc degeneration, orthopedics, multiple sclerosis, psoriasis, wound healing, and cancer.
As analysts continue to evaluate FibroBiologics’ performance and prospects, investors remain keenly aware of the company’s potential in the rapidly evolving field of regenerative medicine.
