HCW Biologics Inc. (NASDAQ:HCWB) Short Interest Down 85.9% in June

HCW Biologics Inc. (NASDAQ:HCWB) saw a significant decrease in short interest in June. As of June 30th, there was short interest totaling 41,709 shares, a decrease of 85.9% from the June 15th total of 296,814 shares. Based on an average daily volume of 197,573 shares, the short-interest ratio is currently 0.2 days. Approximately 2.9% of the shares of the stock are short sold.

HCW Biologics Trading Down 1.9%

Shares of HCWB stock traded down $0.09 on Friday, reaching $4.55. The company had a trading volume of 30,582 shares, compared to its average volume of 130,137. The stock has a market cap of $7.28 million, a PE ratio of -0.08 and a beta of 2.29. The company has a 50-day moving average of $7.24 and a 200-day moving average of $5.63. HCW Biologics has a 12 month low of $1.50 and a 12 month high of $44.10.

HCW Biologics (NASDAQ:HCWB) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of ($2.64) by $3.01. The business had revenue of $6.54 million for the quarter, compared to analyst estimates of $6.54 million. HCW Biologics had a negative net margin of 34.73% and a negative return on equity of 486.87%.

Analyst Upgrades and Downgrades

A number of analysts have commented on HCWB shares. Maxim Group lifted their target price on shares of HCW Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of HCW Biologics in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded HCW Biologics to a “hold” rating in a research report on Saturday, May 23rd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.00.

Insider Activity at HCW Biologics

In related news, Director Scott T. Garrett purchased 29,656 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of $8.46 per share, with a total value of $250,889.76. Following the completion of the acquisition, the director directly owned 33,906 shares in the company, valued at approximately $286,844.76. This trade represents a 697.79% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On HCW Biologics

A hedge fund recently bought a new position in HCW Biologics stock. Armistice Capital LLC purchased a new stake in HCW Biologics Inc. (NASDAQ:HCWB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 currently owned by hedge funds and other institutional investors.

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.