HCW Biologics Stock to Reverse Split on Tuesday, June 30th (NASDAQ:HCWB)

Shares of HCW Biologics Inc. (NASDAQ:HCWB) are set to reverse split on Tuesday, June 30th. The 1-6 reverse split was announced on Friday, June 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 29th.

HCW Biologics Stock Performance

NASDAQ:HCWB traded down $0.09 during trading hours on Friday, reaching $1.03. The stock had a trading volume of 479,534 shares, compared to its average volume of 10,771,115. The stock has a market cap of $7.37 million, a P/E ratio of -0.11 and a beta of 2.21. The stock has a 50 day simple moving average of $1.12 and a 200 day simple moving average of $1.01. HCW Biologics has a 12-month low of $0.25 and a 12-month high of $7.35.

HCW Biologics (NASDAQ:HCWB) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.81. HCW Biologics had a negative return on equity of 486.87% and a negative net margin of 34.73%.The firm had revenue of $6.54 million for the quarter, compared to analysts’ expectations of $6.54 million.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at HCW Biologics

In related news, Director Scott T. Garrett purchased 177,936 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of $1.41 per share, for a total transaction of $250,889.76. Following the completion of the transaction, the director directly owned 203,441 shares in the company, valued at approximately $286,851.81. This represents a 697.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 9.10% of the stock is currently owned by corporate insiders.

Institutional Trading of HCW Biologics

An institutional investor recently bought a new position in HCW Biologics stock. Armistice Capital LLC purchased a new stake in HCW Biologics Inc. (NASDAQ:HCWB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned 9.15% of HCW Biologics at the end of the most recent reporting period. 2.96% of the stock is owned by institutional investors and hedge funds.

HCW Biologics Company Profile

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.