First Wave BioPharma Inc. [FWBI] is -29.19% lower this YTD. Is it still time to buy?

First Wave BioPharma Inc. [NASDAQ: FWBI] plunged by -$0.03 during the normal trading session on Tuesday and reaching a high of $5.32 during the day while it closed the day at $0.62. The company report on January 13, 2023 that First Wave BioPharma Provides Update on IND Filing For Phase 2 Trial of Enhanced Microgranule Formulation of Adrulipase for Exocrine Pancreatic Insufficiency.


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“We are eager to evaluate the potential of our enhanced microgranule delivery formulation of adrulipase in the proof-of-concept Phase 2 clinical trial, which we are prepared to initiate immediately after the IND protocol amendment is cleared,” said James Sapirstein, President and CEO of First Wave BioPharma. “Interactions with the FDA have thus far been supportive of our clinical plan, and we are working closely with our CRO partner and the clinical trial sites to begin enrolling patients as soon as we are able.”.

First Wave BioPharma Inc. stock has also loss -31.87% of its value over the past 7 days. However, FWBI stock has declined by -44.64% in the 3 months of the year. Over the past six months meanwhile, it has lost -86.56% and lost -29.19% year-on date.

The market cap for FWBI stock reached $4.10 million, with 5.80 million shares outstanding and 4.92 million shares in the current float. Compared to the average trading volume of 1.07M shares, FWBI reached a trading volume of 5772172 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $11.00 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 2.00. 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 trade performance evaluation

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 -31.87. With this latest performance, FWBI shares dropped by -4.57% in over the last four-week period, additionally sinking by -86.56% over the last 6 months – not to mention a drop of -98.57% 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 41.08, with the RSI for the last a single of trading hit 36.85, and the three-weeks RSI is set at 41.53 for First Wave BioPharma Inc. [FWBI]. The present Moving Average for the last 50 days of trading for this stock 0.7704, while it was recorded at 0.7519 for the last single week of trading, and 6.1230 for the last 200 days.

First Wave BioPharma Inc. [FWBI]: An insightful look at the core fundamentals

First Wave BioPharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

First Wave BioPharma Inc. [FWBI]: Insider Ownership positions

There are presently around $0 million, or 2.00% of FWBI stock, in the hands of institutional investors. The top three institutional holders of FWBI stocks are: STATE STREET CORP with ownership of 82,593, which is approximately 5824.892% of the company’s market cap and around 15.20% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 12,628 shares of the stock with an approximate value of $8000.0 in FWBI stocks shares; and JANE STREET GROUP, LLC, currently with $6000.0 in FWBI stock with ownership of nearly 590.252% of the company’s market capitalization.

Positions in First Wave BioPharma Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 9 institutional holders increased their position in First Wave BioPharma Inc. [NASDAQ:FWBI] by around 107,669 shares. Additionally, 9 investors decreased positions by around 11,104 shares, while 4 investors held positions by with 4,069 shares. The mentioned changes placed institutional holdings at 114,704 shares, according to the latest SEC report filing. FWBI stock had 4 new institutional investments in for a total of 2,434 shares, while 8 institutional investors sold positions of 10,965 shares during the same period.

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