Shares of Forward Pharma (NASDAQ:FWP) traded down 28.6% during mid-day trading on Wednesday . The company traded as low as $2.68 and last traded at $2.92. 795,803 shares were traded during mid-day trading, an increase of 575% from the average session volume of 117,967 shares. The stock had previously closed at $4.09.
A number of analysts have recently issued reports on the stock. ValuEngine cut shares of Forward Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. BidaskClub raised shares of Forward Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th.
An institutional investor recently raised its position in Forward Pharma stock. BVF Inc. IL lifted its position in Forward Pharma (NASDAQ:FWP) by 37.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,755,117 shares of the biotechnology company’s stock after purchasing an additional 1,300,000 shares during the period. Forward Pharma comprises 1.0% of BVF Inc. IL’s portfolio, making the stock its 27th largest holding. BVF Inc. IL owned approximately 10.08% of Forward Pharma worth $10,319,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 20.24% of the company’s stock.
Forward Pharma Company Profile
Forward Pharma A/S operates as a biopharmaceutical company. The company focuses on developing FP187, a proprietary formulation of dimethyl fumarate, which has been completed Phase II clinical trials used for the treatment of various inflammatory and neurological indications, including multiple sclerosis and other immune disorders, such as psoriasis.
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