HCW Biologics (NASDAQ:HCWB) Issues Earnings Results

HCW Biologics (NASDAQ:HCWB) announced its quarterly earnings results on Tuesday. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.18), FiscalAI reports. The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $7.01 million.

HCW Biologics Price Performance

NASDAQ:HCWB traded down $0.00 on Tuesday, reaching $0.36. The stock had a trading volume of 394,144 shares, compared to its average volume of 25,039,006. HCW Biologics has a 12-month low of $0.34 and a 12-month high of $17.80. The company has a market cap of $1.27 million, a price-to-earnings ratio of -0.03 and a beta of 0.79. The firm’s fifty day moving average is $0.77 and its two-hundred day moving average is $2.04.

Hedge Funds Weigh In On HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC bought a new position in shares of HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 (SEC). Institutional investors own 2.96% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a research report on Thursday, January 22nd. 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.com, the company presently has an average rating of “Hold” and a consensus price target of $35.00.

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.