Recent Insider Activity Suggests Potential Gains for First Wave BioPharma Inc. (FWBI)


First Wave BioPharma Inc.’s recent filing unveils that its Director CASAMENTO CHARLES J unloaded Company’s shares for reported $4.0 on Sep 15. In the deal valued at $0.43 per share,10 shares were sold. As a result of this transaction, CASAMENTO CHARLES J now holds 6,098 shares worth roughly $ 2378.2200000000003.

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Then, CASAMENTO CHARLES J sold 6,053 shares, generating $1,816 in total proceeds. Upon selling the shares at $0.30, the Director now owns 6,108 shares.

Before that, SAPIRSTEIN JAMES sold 3,349 shares. First Wave BioPharma Inc. shares valued at $5,157 were divested by the President and CEO at a price of $1.54 per share. As a result of the transaction, SAPIRSTEIN JAMES now holds 36,161 shares, worth roughly $14102.79.

Price Performance Review of FWBI

On Monday, First Wave BioPharma Inc. [NASDAQ:FWBI] saw its stock fall -11.59% to $0.39. On the same session, the stock had its day’s lowest price of $0.38, but rose to a high of $0.4199. Over the last five days, the stock has lost -3.52%. First Wave BioPharma Inc. shares have fallen nearly -93.65% since the year began. Nevertheless, the stocks have fallen -97.28% over the past one year. While a 52-week high of $16.38 was reached on 01/05/23, a 52-week low of $0.27 was recorded on 09/05/23. SMA at 50 days reached $0.5392, while 200 days put it at $2.6904. A total of 2.12 million shares were traded, compared to the trading of 131.44 million shares in the previous session.

Levels Of Support And Resistance For FWBI Stock

The 24-hour chart illustrates a support level at 0.3727, which if violated will result in even more drops to 0.3564. On the upside, there is a resistance level at 0.4126. A further resistance level may holdings at 0.4362. The Relative Strength Index (RSI) on the 14-day chart is 43.09, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0500, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.17%. Stochastics %K at 20.60% indicates the stock is a holding.

How much short interest is there in First Wave BioPharma Inc.?

A steep rise in short interest was recorded in First Wave BioPharma Inc. stocks on Aug 30, 2023, dropping by 23500.0 shares to a total of 21990.0 shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 45490.0 shares. There was a decline of -106.87%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.31% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.1.

First Wave BioPharma Inc. [FWBI] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 16,477 shares, or roughly 0.23% of the outstanding FWBI shares.. Over the last quarter, Tower Research Capital LLC purchased 3,177 shares of First Wave BioPharma Inc., while Securities America Advisors, Inc. bought 1,000 shares. At present, BlackRock Fund Advisors is holding 376 shares valued at $117.0. Strategic Advisers LLC owned 158 shares of the company at the time of its most recent 13F filing, worth $49.0.

According to FactSet, First Wave BioPharma Inc.’s share price will average $10.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 2286.36 percent from its previous closing price of $0.44. Analysts expect First Wave BioPharma Inc. stock to reach the higher price of $11.00, while the lowest price estimate is $10.00. However, 2 analysts have rated FWBI stock as an Overweight in their predictions for 2023.


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