HCW Biologics (NASDAQ:HCWB) Releases Quarterly Earnings Results, Beats Expectations By $0.81 EPS

HCW Biologics (NASDAQ:HCWB) posted its quarterly earnings results on Thursday. The company reported $0.37 EPS for the quarter, beating the consensus estimate of ($0.44) by $0.81, FiscalAI reports. The business had revenue of $6.54 million during the quarter, compared to the consensus estimate of $0.02 million.

HCW Biologics Price Performance

Shares of NASDAQ:HCWB traded down $0.01 during trading hours on Thursday, hitting $0.34. The company’s stock had a trading volume of 12,075,199 shares, compared to its average volume of 6,015,362. HCW Biologics has a 52 week low of $0.25 and a 52 week high of $10.50. The company has a market capitalization of $2.27 million, a price-to-earnings ratio of -0.03 and a beta of 1.13. The firm’s fifty day moving average price is $0.46 and its 200 day moving average price is $1.27.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC acquired a new position in HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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 SEC filing. 2.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.