HCW Biologics Inc. (NASDAQ:HCWB) Short Interest Update

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

Analyst Ratings Changes

Several analysts have recently weighed in on HCWB shares. Wall Street Zen raised shares of HCW Biologics to a “hold” rating in a research note on Saturday, May 23rd. Maxim Group increased their price objective on HCW Biologics from $2.00 to $5.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of HCW Biologics in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, HCW Biologics currently has an average rating of “Hold” and a consensus target price of $5.00.

HCW Biologics Stock Performance

HCW Biologics stock traded up $0.03 during mid-day trading on Wednesday, reaching $1.21. 754,292 shares of the company were exchanged, compared to its average volume of 11,720,958. The business has a fifty day moving average of $0.92 and a 200 day moving average of $1.09. The firm has a market cap of $8.14 million, a P/E ratio of -0.13 and a beta of 2.21. HCW Biologics has a 12-month low of $0.25 and a 12-month high of $7.35.

HCW Biologics (NASDAQ:HCWB) last posted its earnings results on Thursday, May 14th. The company reported $0.37 earnings per share 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 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%.

Insider Activity at HCW Biologics

In related news, Director Scott T. Garrett purchased 177,936 shares of HCW Biologics stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $1.41 per share, with a total value of $250,889.76. Following the purchase, the director directly owned 203,441 shares of the company’s stock, valued at approximately $286,851.81. This represents a 697.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC acquired a new stake in shares of HCW Biologics Inc. (NASDAQ:HCWB) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 quarter. 2.96% of the stock is owned by institutional investors and hedge funds.

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.