HCW Biologics (NASDAQ:HCWB) Issues Quarterly Earnings Results

HCW Biologics (NASDAQ:HCWB) posted its quarterly earnings data on Thursday, May 14th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of ($2.64) by $3.01, Zacks reports. The company had revenue of $6.54 million during the quarter, compared to the consensus estimate of $6.54 million. HCW Biologics had a negative net margin of 34.73% and a negative return on equity of 486.87%.

HCW Biologics Trading Down 15.0%

HCWB stock opened at $0.88 on Tuesday. The company has a market cap of $6.27 million, a PE ratio of -0.09 and a beta of 2.18. The stock has a 50-day moving average price of $1.14 and a two-hundred day moving average price of $1.00. HCW Biologics has a 12-month low of $0.25 and a 12-month high of $7.35.

Wall Street Analysts Forecast Growth

HCWB has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of HCW Biologics in a research report on Tuesday, April 21st. Maxim Group upped their price target on shares of HCW Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen raised shares of HCW Biologics to a “hold” rating in a research note on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.00.

Insider Activity at HCW Biologics

In other news, Director Scott T. Garrett acquired 29,656 shares of HCW Biologics stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $8.46 per share, with a total value of $250,889.76. Following the purchase, the director directly owned 33,906 shares of the company’s stock, valued at approximately $286,844.76. This trade represents a 697.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in HCW Biologics stock. Armistice Capital LLC acquired a new position in shares of HCW Biologics Inc. (NASDAQ:HCWB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned 9.15% of HCW Biologics as of its most recent SEC filing. Institutional investors and hedge funds own 2.96% of the company’s stock.

About HCW Biologics

HCW Biologics Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel immunotherapies for chronic, low-grade inflammation, and age-related diseases in the United States. The company's lead products include HCW9218, which is in Phase 1 clinical chemo-refractory/chemo-resistant solid tumors with pancreatic, ovarian, breast, prostate, and colorectal cancers, as well as Phase 2 clinical trial with metastatic advanced stage ovarian cancer patients; and HCW9302 for autoimmune and proinflammatory diseases, such as alopecia areata diseases.