First Wave BioPharma Inc. [FWBI] moved down -18.18: Why It’s Important

First Wave BioPharma Inc. [NASDAQ: FWBI] stock went on a downward path that fall over -18.18% on Thursday, amounting to a one-week price decrease of less than -13.90%. The company report on August 25, 2022 that First Wave BioPharma, Inc. Announces Reverse Stock Split.


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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 intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share for every 30 pre-split shares. First Wave’s common stock will continue to be traded on the NASDAQ Capital Market under the symbol FWBI and will begin trading on a split-adjusted basis when the market opens on Friday, August 26, 2022, under a new CUSIP number, 33749P200.

At the effective time of the reverse stock split, every thirty shares of First Wave’s issued and outstanding common stock will be converted automatically into one issued and outstanding share of common stock, with no corresponding reduction in the number of authorized shares of common stock, and without any change in the par value per share. Stockholders holding shares through a brokerage account will have their shares automatically adjusted to reflect the 1-for-30 reverse stock split. It is not necessary for stockholders holding shares of the Company’s common stock in certificated form to exchange their existing stock certificates for new stock certificates of the Company in connection with the reverse stock split, although stockholders may do so if they wish.

Over the last 12 months, FWBI stock dropped by -97.88%. The one-year First Wave BioPharma Inc. stock forecast points to a potential upside of 98.56. The average equity rating for FWBI stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.45 million, with 41.29 million shares outstanding and 21.38 million shares in the current float. Compared to the average trading volume of 3.31M shares, FWBI stock reached a trading volume of 11256293 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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.

FWBI Stock Performance Analysis:

First Wave BioPharma Inc. [FWBI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.90. With this latest performance, FWBI shares dropped by -17.82% in over the last four-week period, additionally sinking by -89.61% over the last 6 months – not to mention a drop of -97.88% 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 35.03, with the RSI for the last a single of trading hit 32.23, and the three-weeks RSI is set at 35.33 for First Wave BioPharma Inc. [FWBI]. The present Moving Average for the last 50 days of trading for this stock 0.1988, while it was recorded at 0.1497 for the last single week of trading, and 0.9024 for the last 200 days.

Insight into First Wave BioPharma Inc. Fundamentals:

First Wave BioPharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

First Wave BioPharma Inc. [FWBI] Insider Position Details

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: GEODE CAPITAL MANAGEMENT, LLC with ownership of 91,026, which is approximately 0% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 88,028 shares of the stock with an approximate value of $12000.0 in FWBI stocks shares; and BANK OF NEW YORK MELLON CORP, currently with $11000.0 in FWBI stock with ownership of nearly 0.579% 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 8 institutional holders increased their position in First Wave BioPharma Inc. [NASDAQ:FWBI] by around 249,467 shares. Additionally, 10 investors decreased positions by around 274,220 shares, while 8 investors held positions by with 20,657 shares. The mentioned changes placed institutional holdings at 544,344 shares, according to the latest SEC report filing. FWBI stock had 5 new institutional investments in for a total of 172,295 shares, while 6 institutional investors sold positions of 247,082 shares during the same period.

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