HCW Biologics (NASDAQ:HCWB) Announces Earnings Results, Misses Expectations By $3.60 EPS

HCW Biologics (NASDAQ:HCWB) posted its quarterly earnings data on Friday. The company reported ($2.02) EPS for the quarter, missing the consensus estimate of $1.58 by ($3.60), FiscalAI reports. The business had revenue of $0.00 million for the quarter, compared to the consensus estimate of $7.00 million.

HCW Biologics Stock Up 20.5%

Shares of HCWB traded up $0.51 during mid-day trading on Friday, hitting $3.00. 1,724,761 shares of the company traded hands, compared to its average volume of 816,402. HCW Biologics has a 1-year low of $2.30 and a 1-year high of $100.80. The company has a market capitalization of $6.46 million, a PE ratio of -0.21 and a beta of 0.63. The business has a 50 day moving average of $3.87 and a 200 day moving average of $4.95.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of HCW Biologics from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.00.

Hedge Funds Weigh In On HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Golden State Wealth Management LLC acquired a new stake in shares of HCW Biologics Inc. (NASDAQ:HCWB) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,000 shares of the company’s stock, valued at approximately $40,000. Golden State Wealth Management LLC owned 0.69% of HCW Biologics at the end of the most recent quarter. Hedge funds and other institutional investors own 2.96% of the company’s stock.

HCW Biologics Company Profile

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.