FibroBiologics (NASDAQ:FBLG) Now Covered by Analysts at Maxim Group

Stock analysts at Maxim Group started coverage on shares of FibroBiologics (NASDAQ:FBLG) in a report issued on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Maxim Group’s price objective points to a potential upside of 334.78% from the company’s previous close.

Separately, EF Hutton Acquisition Co. I raised shares of FibroBiologics to a “strong-buy” rating in a research note on Wednesday, September 4th.

FibroBiologics Stock Performance

Shares of FBLG stock opened at $2.76 on Tuesday. FibroBiologics has a twelve month low of $1.08 and a twelve month high of $55.00. The business has a fifty day simple moving average of $3.05 and a 200 day simple moving average of $7.05.

FibroBiologics (NASDAQ:FBLG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). On average, equities research analysts expect that FibroBiologics will post -0.37 EPS for the current fiscal year.

Institutional Trading of FibroBiologics

Hedge funds have recently made changes to their positions in the company. Transform Wealth LLC bought a new position in FibroBiologics in the 2nd quarter valued at approximately $668,000. ERn Financial LLC acquired a new position in FibroBiologics in the 2nd quarter valued at approximately $159,000. Saxon Interests Inc. bought a new position in shares of FibroBiologics during the second quarter valued at $106,000. RMR Wealth Builders acquired a new position in shares of FibroBiologics during the second quarter worth $186,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of FibroBiologics in the second quarter worth $342,000.

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.