HC Wainwright Reiterates “Neutral” Rating for First Wave BioPharma (NASDAQ:FWBI)

First Wave BioPharma (NASDAQ:FWBIGet Free Report)‘s stock had its “neutral” rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Monday, Benzinga reports.

Separately, Roth Mkm cut their price target on First Wave BioPharma from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, March 15th.

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First Wave BioPharma Trading Down 1.3 %

Shares of NASDAQ:FWBI opened at $4.42 on Monday. The firm’s 50 day moving average is $5.36 and its two-hundred day moving average is $5.67. The firm has a market capitalization of $3.01 million, a P/E ratio of -0.02 and a beta of 1.29. First Wave BioPharma has a 52 week low of $2.75 and a 52 week high of $73.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Citigroup Inc. acquired a new stake in First Wave BioPharma during the 1st quarter valued at $39,000. State Street Corp raised its stake in First Wave BioPharma by 97.4% during 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 during the period. Finally, Armistice Capital LLC acquired a new stake in First Wave BioPharma during the 4th quarter valued at $257,000. Institutional investors own 12.30% of the company’s stock.

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.

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