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

Shares of HCW Biologics Inc. (NASDAQ:HCWB) are going to reverse split on the morning of 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 Trading Down 8.0%

HCWB stock traded down $0.09 during mid-day trading on Friday, hitting $1.03. The stock had a trading volume of 479,534 shares, 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 firm has a market capitalization of $7.37 million, a P/E ratio of -0.11 and a beta of 2.21. The firm has a fifty day simple moving average of $1.12 and a 200 day simple moving average of $1.01.

HCW Biologics (NASDAQ:HCWB) last issued its earnings results on Thursday, May 14th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of ($0.44) by $0.81. The company had revenue of $6.54 million during the quarter, compared to analysts’ expectations of $6.54 million. HCW Biologics had a negative net margin of 34.73% and a negative return on equity of 486.87%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Maxim Group upped their target price on HCW Biologics from $2.00 to $5.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of HCW Biologics in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised HCW Biologics to a “hold” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, HCW Biologics presently has a consensus rating of “Hold” and an average target price of $5.00.

Insider Activity

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

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in HCW Biologics stock. Armistice Capital LLC purchased a new stake in HCW Biologics Inc. (NASDAQ:HCWB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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 and Exchange Commission. Institutional investors and hedge funds 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.