HCW Biologics (NASDAQ:HCWB) Releases Quarterly Earnings Results, Misses Expectations By $1.79 EPS

HCW Biologics (NASDAQ:HCWB) released its quarterly earnings results on Tuesday. The company reported ($2.63) EPS for the quarter, missing the consensus estimate of ($0.84) by ($1.79), Zacks reports. The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $7.01 million.

HCW Biologics Price Performance

Shares of NASDAQ HCWB opened at $0.26 on Thursday. The company has a 50-day simple moving average of $0.75 and a 200-day simple moving average of $2.03. The company has a market cap of $918,720.00, a PE ratio of -0.03 and a beta of 0.90. HCW Biologics has a 12 month low of $0.24 and a 12 month high of $17.80.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of HCW Biologics in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, HCW Biologics currently has an average rating of “Hold” and an average target price of $35.00.

Institutional Investors Weigh In On HCW Biologics

An institutional investor recently bought a new position in HCW Biologics stock. Armistice Capital LLC purchased a new position in HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned about 9.15% of HCW Biologics at the end of the most recent quarter. 2.96% of the stock is currently owned by hedge funds and other institutional investors.

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.