Scott Garrett Buys 177,936 Shares of HCW Biologics (NASDAQ:HCWB) Stock

HCW Biologics Inc. (NASDAQ:HCWB) Director Scott Garrett bought 177,936 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of $1.41 per share, for a total transaction of $250,889.76. Following the transaction, the director owned 203,441 shares in the company, valued at approximately $286,851.81. This represents a 697.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

HCW Biologics Price Performance

NASDAQ HCWB opened at $2.09 on Friday. The stock has a market capitalization of $14.07 million, a PE ratio of -0.22 and a beta of 1.13. The business has a fifty day moving average price of $0.74 and a two-hundred day moving average price of $1.14. 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 issued its quarterly earnings data on Thursday, May 14th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of ($0.44) by $0.81. The business had revenue of $6.54 million during the quarter, compared to the consensus estimate of $6.54 million. HCW Biologics had a negative net margin of 34.73% and a negative return on equity of 486.87%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC purchased a new position in HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period. 2.96% of the stock is currently 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.