Insider Buying: HCW Biologics (NASDAQ:HCWB) Director Acquires $250,889.76 in Stock

HCW Biologics Inc. (NASDAQ:HCWB) Director Scott Garrett purchased 177,936 shares of the stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of $1.41 per share, for a total transaction of $250,889.76. Following the completion of the acquisition, 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 legal filing with the SEC, which is available at the SEC website.

HCW Biologics Stock Performance

NASDAQ:HCWB opened at $1.98 on Friday. The stock has a market capitalization of $13.33 million, a P/E ratio of -0.21 and a beta of 1.13. The company’s 50-day simple moving average is $0.76 and its 200-day simple moving average is $1.15. HCW Biologics Inc. has a fifty-two week low of $0.25 and a fifty-two week high of $8.75.

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

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 shares of HCW Biologics Inc. (NASDAQ:HCWB) in the fourth 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 about 9.15% of HCW Biologics at the end of the most recent quarter. 2.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HCWB shares. Wall Street Zen upgraded shares of HCW Biologics to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of HCW Biologics in a research note on Tuesday, April 21st. Finally, Maxim Group lifted their target price on shares of HCW Biologics from $2.00 to $5.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.