HCW Biologics (NASDAQ:HCWB) Price Target Raised to $5.00

HCW Biologics (NASDAQ:HCWB) had its target price increased by investment analysts at Maxim Group from $2.00 to $5.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price target would indicate a potential upside of 133.97% from the company’s current price.

A number of other equities analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HCW Biologics in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of HCW Biologics to a “hold” rating in a research note on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.00.

HCW Biologics Price Performance

Shares of NASDAQ:HCWB traded up $0.20 during trading on Thursday, reaching $2.14. 2,727,686 shares of the company were exchanged, compared to its average volume of 12,628,761. The firm has a market capitalization of $14.39 million, a PE ratio of -0.23 and a beta of 1.13. The business’s fifty day simple moving average is $0.72 and its 200-day simple moving average is $1.15. HCW Biologics has a 12-month low of $0.25 and a 12-month high of $8.75.

HCW Biologics (NASDAQ:HCWB) last issued its earnings results on Thursday, May 14th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.81. 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%.

Insiders Place Their Bets

In other news, Director Scott T. Garrett bought 177,936 shares of the stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $1.41 per share, for a total transaction of $250,889.76. Following the completion of the purchase, the director directly owned 203,441 shares in the company, valued at approximately $286,851.81. The trade was a 697.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC acquired a new position in shares of HCW Biologics Inc. (NASDAQ:HCWB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned 9.15% of HCW Biologics at the end of the most recent quarter. 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.