The Manufacturers Life Insurance Company Invests $32,000 in FibroBiologics, Inc. (NASDAQ:FBLG)

The Manufacturers Life Insurance Company purchased a new position in shares of FibroBiologics, Inc. (NASDAQ:FBLG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,264 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fund Evaluation Group LLC purchased a new position in shares of FibroBiologics during the 2nd quarter worth approximately $5,265,000. Cascade Financial Partners LLC purchased a new position in FibroBiologics in the second quarter worth $1,572,000. Bank of New York Mellon Corp acquired a new stake in FibroBiologics in the second quarter valued at $342,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of FibroBiologics during the 2nd quarter worth $51,000. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of FibroBiologics during the 2nd quarter worth $176,000.

Analysts Set New Price Targets

FBLG has been the topic of a number of research reports. Rodman & Renshaw assumed coverage on FibroBiologics in a report on Thursday, December 12th. They issued a “buy” rating and a $12.00 price target on the stock. D. Boral Capital reissued a “buy” rating and set a $16.00 price target on shares of FibroBiologics in a research note on Wednesday, November 20th. EF Hutton Acquisition Co. I raised FibroBiologics to a “strong-buy” rating in a research report on Wednesday, September 4th. Maxim Group started coverage on FibroBiologics in a research report on Tuesday, September 24th. They set a “buy” rating and a $12.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of FibroBiologics in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, FibroBiologics currently has an average rating of “Buy” and a consensus price target of $13.00.

FibroBiologics Stock Performance

FBLG stock opened at $2.15 on Wednesday. The business has a fifty day simple moving average of $2.76 and a 200-day simple moving average of $3.61. FibroBiologics, Inc. has a 52 week low of $1.08 and a 52 week high of $55.00.

FibroBiologics 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.