HCW Biologics Inc. (NASDAQ:HCWB) Sees Significant Growth in Short Interest

HCW Biologics Inc. (NASDAQ:HCWB) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 34,136 shares, a growth of 137.9% from the August 15th total of 14,348 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily volume of 238,774 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On HCW Biologics

An institutional investor recently bought a new position 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 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 approximately 9.15% of HCW Biologics at the end of the most recent quarter. Institutional investors and hedge funds own 2.96% of the company’s stock.

HCW Biologics Price Performance

Shares of NASDAQ:HCWB opened at $2.24 on Monday. The business’s fifty day moving average price is $3.21 and its two-hundred day moving average price is $4.48. HCW Biologics has a fifty-two week low of $1.50 and a fifty-two week high of $36.65. The stock has a market capitalization of $4.12 million, a price-to-earnings ratio of -0.08 and a beta of 2.37.

HCW Biologics (NASDAQ:HCWB) last issued its quarterly earnings data on Friday, August 14th. The company reported ($11.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.98) by ($9.60). HCW Biologics had a negative net margin of 83.03% and a negative return on equity of 262.33%. The company had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.14 million.

Analyst Ratings Changes

HCWB has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a research note on Friday, July 17th. Maxim Group lifted their target price on shares of HCW Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen raised 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 given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.00.

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.