HCW Biologics (NASDAQ:HCWB) Trading Down 9% – Should You Sell?

HCW Biologics Inc. (NASDAQ:HCWB) shares traded down 9% during mid-day trading on Friday . The stock traded as low as $2.87 and last traded at $3.02. 43,674 shares traded hands during trading, a decline of 95% from the average session volume of 826,744 shares. The stock had previously closed at $3.32.

Analyst Ratings Changes

A number of research analysts have recently commented on HCWB shares. Weiss Ratings reissued a “sell (e+)” rating on shares of HCW Biologics in a report on Wednesday, October 8th. Wall Street Zen cut HCW Biologics from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $35.00.

HCW Biologics Trading Down 9.0%

The firm has a 50-day moving average of $4.09 and a two-hundred day moving average of $5.12. The firm has a market cap of $6.50 million, a price-to-earnings ratio of -0.22 and a beta of 0.63.

HCW Biologics (NASDAQ:HCWB) last released its earnings results on Monday, August 18th. The company reported ($6.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($8.59). The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $7.00 million.

Hedge Funds Weigh In On HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Golden State Wealth Management LLC bought a new stake in shares of HCW Biologics Inc. (NASDAQ:HCWB) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $40,000. Golden State Wealth Management LLC owned about 0.69% of HCW Biologics at the end of the most recent reporting period. 2.96% of the stock is owned by hedge funds and other institutional investors.

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.