First Wave BioPharma, Inc. (NASDAQ:FWBI) Short Interest Update

First Wave BioPharma, Inc. (NASDAQ:FWBIGet Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 55,000 shares, an increase of 295.7% from the March 15th total of 13,900 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average trading volume of 140,300 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FWBI. Armistice Capital LLC purchased a new position in shares of First Wave BioPharma in the 4th quarter valued at $257,000. State Street Corp increased its holdings in First Wave BioPharma by 97.4% in the 3rd quarter. State Street Corp now owns 82,593 shares of the company’s stock valued at $122,000 after purchasing an additional 40,755 shares in the last quarter. Finally, Citigroup Inc. purchased a new position in First Wave BioPharma in the first quarter valued at about $39,000. 12.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FWBI has been the subject of a number of recent analyst reports. HC Wainwright restated a “neutral” rating on shares of First Wave BioPharma in a report on Monday, March 25th. Roth Mkm lowered their price objective on shares of First Wave BioPharma from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, March 15th.

Read Our Latest Stock Report on FWBI

First Wave BioPharma Stock Down 2.3 %

Shares of NASDAQ:FWBI traded down $0.08 during trading on Friday, reaching $3.34. 41,067 shares of the stock were exchanged, compared to its average volume of 268,823. The firm’s 50-day moving average price is $5.29 and its 200 day moving average price is $5.30. First Wave BioPharma has a 12-month low of $2.75 and a 12-month high of $73.00.

First Wave BioPharma Company Profile

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First Wave BioPharma, Inc, a clinical-stage biopharmaceutical company, engages in the research and development of targeted and non-systemic therapies for the treatment of patients with gastrointestinal diseases. Its product candidates include the biologic adrulipase, a recombinant lipase enzyme designed to enable the digestion of fats and other nutrients; and niclosamide, an oral small molecule with anti-viral and anti-inflammatory properties.

Further Reading

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