In the last trading session, 5.03 million First Wave BioPharma Inc. (NASDAQ:FWBI) shares changed hands as the company’s beta touched 1.58. With the company’s per share price at $0.44 changed hands at -$0.07 or -13.39% during last session, the market valuation stood at $3.15M. FWBI’s last price was a discount, traded about -3622.73% off its 52-week high of $16.38. The share price had its 52-week low at $0.27, which suggests the last value was 38.64% up since then. When we look at First Wave BioPharma Inc.’s average trading volume, we note the 10-day average is 20.89 million shares, with the 3-month average coming to 3.56 million.
Analysts gave the First Wave BioPharma Inc. (FWBI) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended FWBI as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. First Wave BioPharma Inc.’s EPS for the current quarter is expected to be -$0.58.
First Wave BioPharma Inc. (NASDAQ:FWBI) trade information
Instantly FWBI was in red as seen at the end of in last trading. With action 5.97%, the performance over the past five days has been green. The drop to weekly highs of 1.1100 on Friday, 09/15/23 subtracted -13.39% to the stock’s daily price. The company’s shares are showing year-to-date downside of -92.82%, with the 5-day performance at 5.97% in the green. However, in the 30-day time frame, First Wave BioPharma Inc. (NASDAQ:FWBI) is 9.89% up. Looking at the short shares, we see there were 21990.0 shares sold at short interest cover period of 0.1 days.
The consensus price target for the stock as assigned by Wall Street analysts is $10.50, meaning bulls need an upside of 95.81% from its current market value. According to analyst projections, FWBI’s forecast low is $10.00 with $11.00 as the target high. To hit the forecast high, the stock’s price needs a -2400.0% plunge from its current level, while the stock would need to soar -2172.73% for it to hit the projected low.
First Wave BioPharma Inc. (FWBI) estimates and forecasts
Data shows that the First Wave BioPharma Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -85.76% over the past 6 months, a 85.19% in annual growth rate that is considerably higher than the industry average of 11.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for First Wave BioPharma Inc. will fall -103.20%, while the growth in revenue is estimated to hit 94.90% for the next quarter.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 60.60%. The 2023 estimates are for First Wave BioPharma Inc. earnings to increase by 99.00%.
First Wave BioPharma Inc. is expected to release its next quarterly earnings report in October.
First Wave BioPharma Inc. (NASDAQ:FWBI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.77% of First Wave BioPharma Inc. shares while 1.65% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 1.67%. There are 1.65% institutions holding the First Wave BioPharma Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 0.23% of the shares, roughly 16477.0 FWBI shares worth $26363.0.
State Street Corporation holds the second largest percentage of outstanding shares, with 0.16% or 11797.0 shares worth $18875.0 as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Series Total Market Index Fund. With 16477.0 shares estimated at $26363.0 under it, the former controlled 0.23% of total outstanding shares. On the other hand, Fidelity Series Total Market Index Fund held about 0.02% of the shares, roughly 1127.0 shares worth around $2096.0.