Short Interest in HCW Biologics Inc. (NASDAQ:HCWB) Drops By 85.9%

HCW Biologics Inc. (NASDAQ:HCWB) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 41,709 shares, a decline of 85.9% from the June 15th total of 296,814 shares. Based on an average daily volume of 197,573 shares, the days-to-cover ratio is presently 0.2 days. Approximately 2.9% of the shares of the company are sold short.

Analyst Ratings Changes

Several analysts have weighed in on HCWB shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of HCW Biologics in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of HCW Biologics to a “hold” rating in a research report on Saturday, May 23rd. Finally, Maxim Group raised their target price on shares of HCW Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, HCW Biologics currently has an average rating of “Hold” and an average target price of $30.00.

Insider Activity at HCW Biologics

In related news, Director Scott T. Garrett acquired 29,656 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $8.46 per share, for a total transaction of $250,889.76. Following the completion of the acquisition, the director directly owned 33,906 shares in the company, valued at approximately $286,844.76. This trade represents a 697.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC acquired a new stake in HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 reporting period. Hedge funds and other institutional investors own 2.96% of the company’s stock.

HCW Biologics Trading Down 2.9%

NASDAQ HCWB traded down $0.13 during midday trading on Monday, hitting $4.42. The company had a trading volume of 37,209 shares, compared to its average volume of 127,229. The firm has a 50-day moving average price of $7.27 and a 200-day moving average price of $5.57. The company has a market capitalization of $7.07 million, a PE ratio of -0.08 and a beta of 2.29. HCW Biologics has a twelve month low of $1.50 and a twelve month high of $44.10.

HCW Biologics (NASDAQ:HCWB) last released its earnings results on Thursday, May 14th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.64) by $3.01. The company 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 486.87% and a negative net margin of 34.73%.

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.