HCW Biologics Inc. (NASDAQ:HCWB) Sees Large Drop in Short Interest

HCW Biologics Inc. (NASDAQ:HCWB) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 417,960 shares, a drop of 89.1% from the May 14th total of 3,844,753 shares. Based on an average trading volume of 32,633,321 shares, the days-to-cover ratio is currently 0.0 days. Approximately 6.8% of the shares of the stock are short sold.

HCW Biologics Stock Performance

Shares of NASDAQ:HCWB traded down $0.27 during mid-day trading on Tuesday, hitting $1.18. The stock had a trading volume of 882,625 shares, compared to its average volume of 36,764,212. The company has a market cap of $7.94 million, a PE ratio of -0.12 and a beta of 2.21. HCW Biologics has a 12-month low of $0.25 and a 12-month high of $7.35. The company’s 50 day moving average is $0.92 and its 200-day moving average is $1.09.

HCW Biologics (NASDAQ:HCWB) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of ($0.44) by $0.81. The business 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%.

Insider Activity at HCW Biologics

In other news, Director Scott T. Garrett acquired 177,936 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $1.41 per share, with a total value of $250,889.76. Following the purchase, the director owned 203,441 shares of the company’s stock, valued at approximately $286,851.81. This represents a 697.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC purchased a new position in HCW Biologics Inc. (NASDAQ:HCWB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned approximately 9.15% of HCW Biologics at the end of the most recent reporting period. 2.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of HCW Biologics to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a research report on Tuesday, April 21st. Finally, Maxim Group upped their price target on HCW Biologics from $2.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.00.

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.