HCW Biologics (NASDAQ:HCWB) Issues Quarterly Earnings Results, Misses Estimates By $9.60 EPS

HCW Biologics (NASDAQ:HCWB) released its earnings results on Friday. The company reported ($11.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.98) by ($9.60), FiscalAI reports. HCW Biologics had a negative net margin of 34.73% and a negative return on equity of 486.87%. The business had revenue of $0.14 million during the quarter, compared to the consensus estimate of $5.73 million.

HCW Biologics Stock Down 8.2%

Shares of NASDAQ:HCWB traded down $0.24 during midday trading on Friday, hitting $2.68. The stock had a trading volume of 130,111 shares, compared to its average volume of 72,278. The company has a market cap of $4.29 million, a P/E ratio of -0.05 and a beta of 2.32. HCW Biologics has a 12 month low of $1.50 and a 12 month high of $44.10. The business’s 50-day simple moving average is $4.71 and its 200-day simple moving average is $4.89.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HCWB shares. Maxim Group boosted their price target on shares of HCW Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen raised HCW Biologics to a “hold” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of HCW Biologics in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.00.

Insider Transactions at HCW Biologics

In other news, Director Scott T. Garrett purchased 29,656 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $8.46 per share, with a total value of $250,889.76. Following the completion of the transaction, the director owned 33,906 shares of the company’s stock, valued at $286,844.76. The trade was a 697.79% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 47,500 shares of company stock worth $310,875 over the last 90 days. Corporate insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in HCW Biologics stock. Armistice Capital LLC bought a new stake in HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 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 filing with the SEC. Institutional investors own 2.96% of the company’s stock.

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.