HCW Biologics (NASDAQ:HCWB) Announces Quarterly Earnings Results, Misses Expectations By $9.60 EPS

HCW Biologics (NASDAQ:HCWB) issued its quarterly earnings data on Friday. The company reported ($11.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.98) by ($9.60), FiscalAI reports. The business had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.14 million. HCW Biologics had a negative net margin of 34.73% and a negative return on equity of 486.87%.

HCW Biologics Price Performance

Shares of HCW Biologics stock opened at $2.68 on Friday. HCW Biologics has a 1 year low of $1.50 and a 1 year high of $44.10. The firm has a market cap of $4.29 million, a PE ratio of -0.10 and a beta of 2.32. The stock has a fifty day moving average price of $4.71 and a 200-day moving average price of $4.89.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HCW Biologics in a research report on Friday, July 17th. Wall Street Zen upgraded HCW Biologics to a “hold” rating in a research note on Saturday, May 23rd. Finally, Maxim Group lifted their price objective 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. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.00.

Insider Activity at HCW Biologics

In related news, Director Scott T. Garrett purchased 29,656 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of $8.46 per share, with a total value of $250,889.76. Following the acquisition, the director owned 33,906 shares of the company’s stock, valued at $286,844.76. This represents a 697.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 47,500 shares of company stock worth $310,875. 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 bought a new stake in HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing. 2.96% of the stock is owned by institutional investors and hedge funds.

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.