HCW Biologics Inc. (NASDAQ:HCWB) Stock Short Interest Declines 72.8%

HCW Biologics Inc. (NASDAQ:HCWB) was the target of a large drop in short interest in September. As of September 15th, there was short interest totaling 9,274 shares, a drop of 72.8% from the August 31st total of 34,136 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 414,337 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.00.

HCW Biologics Stock Performance

HCW Biologics stock opened at $1.93 on Friday. The firm has a market cap of $3.55 million, a P/E ratio of -0.07 and a beta of 2.37. The business’s fifty day moving average is $2.72 and its two-hundred day moving average is $4.36. HCW Biologics has a 52 week low of $1.50 and a 52 week high of $29.28.

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

HCW Biologics Company Profile

HCW Biologics Inc is a clinical-stage biotechnology company focused on developing immunotherapies for diseases associated with chronic, low-grade inflammation, including cancer and age-related conditions. The company’s approach is designed to restore immune balance by reducing harmful inflammation while enhancing the body’s ability to generate an effective immune response.

HCW Biologics uses its proprietary Tissue-based Optimized Biologics Immunotherapy (TOBI™) platform to create engineered fusion-protein therapeutics.