HCW Biologics Stock Scheduled to Reverse Split on Tuesday, June 30th (NASDAQ:HCWB)

Shares of HCW Biologics Inc. (NASDAQ:HCWB) are scheduled to reverse split on Tuesday, June 30th. The 1-6 reverse split was announced on Friday, June 26th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 29th.

HCW Biologics Stock Down 8.0%

HCWB stock traded down $0.09 during trading on Friday, hitting $1.03. 479,534 shares of the company’s stock traded hands, compared to its average volume of 10,771,115. HCW Biologics has a 52 week low of $0.25 and a 52 week high of $7.35. The stock has a market capitalization of $7.37 million, a price-to-earnings ratio of -0.11 and a beta of 2.21. The stock has a fifty day moving average price of $1.12 and a two-hundred day moving average price of $1.01.

HCW Biologics (NASDAQ:HCWB) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.81. The business 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%.

Analyst Ratings Changes

A number of research firms recently commented on HCWB. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HCW Biologics in a research note on Tuesday, April 21st. Maxim Group upped their price objective on shares of HCW Biologics from $2.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Wall Street Zen raised shares of HCW Biologics to a “hold” rating in a research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.00.

Insider Activity

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

Hedge Funds Weigh In On HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC bought a new position in shares of HCW Biologics Inc. (NASDAQ:HCWB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned about 9.15% of HCW Biologics as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 2.96% of the company’s stock.

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.