HCW Biologics (NASDAQ:HCWB) Releases Quarterly Earnings Results

HCW Biologics (NASDAQ:HCWB) issued its quarterly earnings results on Tuesday. The company reported ($2.63) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($1.79), Zacks reports. The firm had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $7.01 million.

HCW Biologics Stock Down 5.3%

NASDAQ:HCWB traded down $0.02 during midday trading on Thursday, hitting $0.28. The stock had a trading volume of 410,132 shares, compared to its average volume of 8,043,037. The stock has a 50-day moving average of $0.75 and a 200 day moving average of $2.03. The company has a market capitalization of $999,680.00, a price-to-earnings ratio of -0.03 and a beta of 0.90. HCW Biologics has a one year low of $0.25 and a one year high of $17.80.

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 13F filing with the Securities & 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 quarter. 2.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.00.

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.