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

FibroBiologics (NASDAQ:FBLG)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 327.05% from the company’s current price.

Several other research analysts have also weighed in on the company. EF Hutton Acquisition Co. I upgraded 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 price objective for the company.

FibroBiologics Trading Down 8.8 %

NASDAQ:FBLG opened at $2.81 on Wednesday. The company’s 50-day moving average is $3.00 and its two-hundred day moving average is $4.99. FibroBiologics has a 1-year low of $1.08 and a 1-year high of $55.00.

Institutional Trading of FibroBiologics

Several institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company acquired a new position in FibroBiologics during the third quarter worth $32,000. Charles Schwab Investment Management Inc. lifted its stake in FibroBiologics by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 69,732 shares of the company’s stock worth $215,000 after acquiring an additional 3,451 shares in the last quarter. Symphony Financial Ltd. Co. acquired a new position in FibroBiologics during the 3rd quarter worth about $76,000. Mercer Global Advisors Inc. ADV purchased a new position in FibroBiologics during the 2nd quarter valued at about $51,000. Finally, Fund Evaluation Group LLC acquired a new position in FibroBiologics in the 2nd quarter valued at about $5,265,000.

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.