HCW Biologics (NASDAQ:HCWB) Announces Quarterly Earnings Results, Beats Expectations By $0.81 EPS

HCW Biologics (NASDAQ:HCWB) announced its quarterly earnings results on Thursday. The company reported $0.37 EPS for the quarter, beating the consensus estimate of ($0.44) by $0.81, FiscalAI reports. The business had revenue of $6.54 million for the quarter, compared to analyst estimates of $6.54 million. HCW Biologics had a negative return on equity of 3,836.95% and a negative net margin of 34.73%.

HCW Biologics Stock Performance

HCW Biologics stock opened at $1.22 on Friday. The firm has a market cap of $8.22 million, a P/E ratio of -0.13 and a beta of 1.13. The business’s fifty day moving average is $0.46 and its two-hundred day moving average is $1.25. HCW Biologics has a 52 week low of $0.25 and a 52 week high of $10.00.

Hedge Funds Weigh In On HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC purchased a new stake in shares of HCW Biologics Inc. (NASDAQ:HCWB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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. 2.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HCW Biologics in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, HCW Biologics currently has an average rating of “Hold” and a consensus price target of $35.00.

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.