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

HCW Biologics Inc. (NASDAQ:HCWB) shares are scheduled to reverse split before the market opens 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%

Shares of HCW Biologics stock traded down $0.09 during trading on Friday, reaching $1.03. The company’s stock had a trading volume of 479,534 shares, compared to its average volume of 10,771,115. The business has a 50 day moving average price of $1.12 and a 200-day moving average price of $1.01. HCW Biologics has a 12-month low of $0.25 and a 12-month high of $7.35. The company has a market capitalization of $7.37 million, a P/E ratio of -0.11 and a beta of 2.21.

HCW Biologics (NASDAQ:HCWB) last posted its quarterly earnings results 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 company 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%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HCWB. Maxim Group raised their price target on HCW Biologics from $2.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen raised shares of HCW Biologics to a “hold” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a report on Tuesday, April 21st. One 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, the stock presently has an average rating of “Hold” and a consensus price target of $5.00.

Insider Transactions at HCW Biologics

In related news, Director Scott T. Garrett bought 177,936 shares of the stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1.41 per share, for a total transaction of $250,889.76. Following the acquisition, the director owned 203,441 shares in the company, valued at $286,851.81. This represents a 697.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 9.10% of the company’s stock.

Institutional Trading of HCW Biologics

An institutional investor recently bought a new stake in HCW Biologics stock. Armistice Capital LLC acquired a new stake in shares of HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 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 SEC filing. Hedge funds and other 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.