HC Wainwright Reaffirms Buy Rating for FibroBiologics (NASDAQ:FBLG)

FibroBiologics (NASDAQ:FBLG)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $12.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 327.05% from the stock’s previous close.

Several other analysts also recently issued reports on FBLG. Maxim Group started coverage on shares of FibroBiologics in a research note on Tuesday, September 24th. They issued a “buy” rating and a $12.00 price objective for the company. EF Hutton Acquisition Co. I upgraded shares of FibroBiologics to a “strong-buy” rating in a report on Wednesday, September 4th.

FibroBiologics Stock Down 8.8 %

NASDAQ:FBLG opened at $2.81 on Wednesday. The business has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $4.99. FibroBiologics has a 1 year low of $1.08 and a 1 year high of $55.00.

Hedge Funds Weigh In On FibroBiologics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company acquired a new stake in FibroBiologics during the third quarter worth about $32,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of FibroBiologics during the 2nd quarter valued at about $51,000. Cahaba Wealth Management Inc. purchased a new position in shares of FibroBiologics in the 2nd quarter valued at about $73,000. Symphony Financial Ltd. Co. acquired a new position in FibroBiologics in the 3rd quarter worth about $76,000. Finally, Saxon Interests Inc. purchased a new position in FibroBiologics during the second quarter worth approximately $106,000.

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.