HCW Biologics Inc. (NASDAQ:HCWB) Sees Large Drop in Short Interest

HCW Biologics Inc. (NASDAQ:HCWB) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 417,960 shares, a decline of 89.1% from the May 14th total of 3,844,753 shares. Based on an average daily trading volume, of 32,633,321 shares, the short-interest ratio is presently 0.0 days. Approximately 6.8% of the company’s shares are short sold.

Insider Activity at HCW Biologics

In other news, Director Scott T. Garrett acquired 177,936 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $1.41 per share, for a total transaction of $250,889.76. Following the acquisition, the director directly owned 203,441 shares in the company, valued at $286,851.81. This trade represents a 697.65% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in HCW Biologics stock. Armistice Capital LLC acquired a new position in HCW Biologics Inc. (NASDAQ:HCWB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 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

HCWB has been the subject of several research reports. Maxim Group raised their price objective on HCW Biologics from $2.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded HCW Biologics to a “hold” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, HCW Biologics presently has a consensus rating of “Hold” and an average price target of $5.00.

HCW Biologics Stock Performance

Shares of NASDAQ HCWB traded down $0.27 during trading on Tuesday, reaching $1.18. The stock had a trading volume of 882,625 shares, compared to its average volume of 36,764,212. HCW Biologics has a one year low of $0.25 and a one year high of $7.35. The stock has a market cap of $7.94 million, a PE ratio of -0.12 and a beta of 2.21. The firm’s 50 day moving average price is $0.92 and its two-hundred day moving average price is $1.09.

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

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.