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

HCW Biologics (NASDAQ:HCWB) issued its earnings results 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 the consensus estimate 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 Stock Down 8.2%

Shares of HCW Biologics stock opened at $2.68 on Friday. The firm has a market cap of $4.29 million, a PE ratio of -0.10 and a beta of 2.32. HCW Biologics has a 12-month low of $1.50 and a 12-month high of $44.10. The company’s fifty day simple moving average is $4.71 and its two-hundred day simple moving average is $4.89.

Insider Activity

In other HCW Biologics news, Director Scott T. Garrett bought 29,656 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price of $8.46 per share, for a total transaction of $250,889.76. Following the completion of the acquisition, the director directly owned 33,906 shares in the company, valued at $286,844.76. The trade was a 697.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 47,500 shares of company stock worth $310,875 over the last 90 days. 9.10% of the stock is currently owned by insiders.

Institutional Investors 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 shares of HCW Biologics Inc. (NASDAQ:HCWB) during the 4th quarter, according to the company in its most recent filing with the Securities & 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 at the end of the most recent reporting period. 2.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on HCWB. Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a research note on Friday, July 17th. Maxim Group lifted their price objective on HCW Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen raised HCW Biologics to a “hold” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.00.

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.