FibroBiologics, Inc. (NASDAQ:FBLG) Short Interest Up 33.9% in August

FibroBiologics, Inc. (NASDAQ:FBLG) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,500,000 shares, a growth of 33.9% from the August 15th total of 1,120,000 shares. Currently, 5.6% of the company’s shares are sold short. Based on an average daily trading volume, of 418,700 shares, the short-interest ratio is presently 3.6 days.

Institutional Investors Weigh In On FibroBiologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV bought a new position in FibroBiologics in the 2nd quarter worth approximately $51,000. Fund Evaluation Group LLC bought a new position in shares of FibroBiologics in the second quarter worth $5,265,000. Cahaba Wealth Management Inc. purchased a new position in shares of FibroBiologics in the second quarter valued at $73,000. Rhumbline Advisers bought a new stake in shares of FibroBiologics during the 2nd quarter valued at $115,000. Finally, Cascade Financial Partners LLC bought a new stake in shares of FibroBiologics during the 2nd quarter valued at $1,572,000.

FibroBiologics Stock Down 0.3 %

FBLG stock traded down $0.01 during midday trading on Monday, hitting $3.25. The company’s stock had a trading volume of 819,030 shares, compared to its average volume of 259,040. The stock’s 50-day moving average price is $3.26 and its 200 day moving average price is $7.37. FibroBiologics has a 1 year low of $1.08 and a 1 year high of $55.00.

FibroBiologics (NASDAQ:FBLG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). Analysts expect that FibroBiologics will post -0.37 EPS for the current year.

Analyst Ratings Changes

Separately, EF Hutton Acquisition Co. I upgraded FibroBiologics to a “strong-buy” rating in a report on Wednesday, September 4th.

FibroBiologics Company Profile

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.