First Wave BioPharma Inc. [FWBI] is -88.48% lower this YTD. Is it still time to buy?

First Wave BioPharma Inc. [NASDAQ: FWBI] gained 5.71% on the last trading session, reaching $0.17 price per share at the time. The company report on July 15, 2022 that First Wave BioPharma, Inc. Announces Private Placement.


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First Wave BioPharma, Inc. (NASDAQ:FWBI) (“First Wave BioPharma” or the “Company”), a clinical-stage biopharmaceutical company specializing in the development of targeted, non-systemic therapies for gastrointestinal diseases, today announced that it has entered into a securities purchase agreement with several institutional accredited investors for the issuance and sale of (i) an aggregate of 150 shares of its Series D Convertible Preferred Stock, stated value $1,000 per share, (ii) 150 shares of its Series E Convertible Preferred Stock, stated value $1,000 per share, and (iii) Series D Warrants to purchase up to 2,000,000 shares of its common stock in a private placement for aggregate gross proceeds of approximately $300,000, before deducting placement agent fees and other offering expenses. The shares of Series D Convertible Preferred Stock are convertible into an aggregate of 1,000,000 shares of common stock of the Company and the shares of Series E Convertible Preferred Stock are convertible into an aggregate of 1,000,000 shares of common stock of the Company, in each case, at a conversion price of $0.15 per share. The Series D Warrants have an exercise price of $0.15 per share, are exercisable commencing upon the effectiveness of the Reverse Split described below, and will expire five years from the initial exercise date.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

First Wave BioPharma Inc. represents 15.54 million in outstanding shares, while the company has a total market value of $6.98 million with the latest information. FWBI stock price has been found in the range of $0.1575 to $0.18.

If compared to the average trading volume of 3.10M shares, FWBI reached a trading volume of 5142248 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about First Wave BioPharma Inc. [FWBI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FWBI shares is $9.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FWBI stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Trading performance analysis for FWBI stock

First Wave BioPharma Inc. [FWBI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.21. With this latest performance, FWBI shares dropped by -22.56% in over the last four-week period, additionally sinking by -89.53% over the last 6 months – not to mention a drop of -97.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FWBI stock in for the last two-week period is set at 43.93, with the RSI for the last a single of trading hit 51.62, and the three-weeks RSI is set at 39.71 for First Wave BioPharma Inc. [FWBI]. The present Moving Average for the last 50 days of trading for this stock 0.2289, while it was recorded at 0.1576 for the last single week of trading, and 1.0254 for the last 200 days.

First Wave BioPharma Inc. [FWBI]: A deeper dive into fundamental analysis

First Wave BioPharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

An analysis of insider ownership at First Wave BioPharma Inc. [FWBI]

There are presently around $0 million, or 1.30% of FWBI stock, in the hands of institutional investors. The top three institutional holders of FWBI stocks are: VANGUARD GROUP INC with ownership of 214,553, which is approximately -26.775% of the company’s market cap and around 0.40% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 91,026 shares of the stock with an approximate value of $15000.0 in FWBI stocks shares; and BANK OF NEW YORK MELLON CORP, currently with $14000.0 in FWBI stock with ownership of nearly 0% of the company’s market capitalization.

Positions in First Wave BioPharma Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 7 institutional holders increased their position in First Wave BioPharma Inc. [NASDAQ:FWBI] by around 46,606 shares. Additionally, 9 investors decreased positions by around 142,224 shares, while 9 investors held positions by with 353,695 shares. The mentioned changes placed institutional holdings at 542,525 shares, according to the latest SEC report filing. FWBI stock had 4 new institutional investments in for a total of 36,318 shares, while 6 institutional investors sold positions of 38,736 shares during the same period.

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