HCW Biologics (NASDAQ:HCWB) Director Scott Garrett Acquires 177,936 Shares

HCW Biologics Inc. (NASDAQ:HCWB) Director Scott Garrett acquired 177,936 shares of the stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $1.41 per share, for a total transaction of $250,889.76. Following the completion of the transaction, the director directly owned 203,441 shares of the company’s stock, valued at approximately $286,851.81. This represents a 697.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

HCW Biologics Stock Performance

Shares of HCW Biologics stock traded down $0.68 during trading hours on Wednesday, hitting $1.94. The company’s stock had a trading volume of 3,330,455 shares, compared to its average volume of 36,091,248. The business has a 50 day moving average price of $0.72 and a two-hundred day moving average price of $1.15. HCW Biologics Inc. has a 12-month low of $0.25 and a 12-month high of $8.75. The company has a market cap of $13.06 million, a PE ratio of -0.21 and a beta of 1.13.

HCW Biologics (NASDAQ:HCWB) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of ($0.44) by $0.81. HCW Biologics had a negative return on equity of 486.87% and a negative net margin of 34.73%.The business had revenue of $6.54 million for the quarter, compared to the consensus estimate of $6.54 million.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a research report on Tuesday, April 21st. Wall Street Zen upgraded HCW Biologics to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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 bought a new position in HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned approximately 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.