Insider Buying: HCW Biologics (NASDAQ:HCWB) Director Acquires $19,958.88 in Stock

HCW Biologics Inc. (NASDAQ:HCWB) Director Scott Garrett purchased 7,736 shares of the stock in a transaction on Wednesday, July 29th. The stock was acquired at an average cost of $2.58 per share, with a total value of $19,958.88. Following the completion of the purchase, the director directly owned 41,644 shares of the company’s stock, valued at $107,441.52. The trade was a 22.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

HCW Biologics Stock Up 1.6%

Shares of NASDAQ:HCWB traded up $0.05 during midday trading on Friday, hitting $3.20. 61,185 shares of the stock traded hands, compared to its average volume of 1,508,655. The business’s 50 day moving average is $6.78 and its two-hundred day moving average is $5.21. The stock has a market capitalization of $5.11 million, a PE ratio of -0.06 and a beta of 2.29. HCW Biologics Inc. has a one year low of $1.50 and a one year high of $44.10.

HCW Biologics (NASDAQ:HCWB) last announced its earnings results on Thursday, May 14th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of ($2.64) by $3.01. The firm had revenue of $6.54 million for the quarter, compared to analyst estimates of $6.54 million. HCW Biologics had a negative net margin of 34.73% and a negative return on equity of 486.87%.

Institutional Investors Weigh In On HCW Biologics

An institutional investor recently bought a new position in HCW Biologics stock. Armistice Capital LLC bought a new position in HCW Biologics Inc. (NASDAQ:HCWB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 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 quarter. Institutional investors and hedge funds own 2.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HCWB shares. Maxim Group lifted their price target on HCW Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a research note on Friday, July 17th. Finally, Wall Street Zen raised shares of HCW Biologics to a “hold” rating in a report on Saturday, May 23rd. One equities 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, HCW Biologics has an average rating of “Hold” and a consensus price target 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.