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

HCW Biologics (NASDAQ:HCWB) issued its quarterly earnings data on Thursday. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.81, FiscalAI reports. The firm had revenue of $6.54 million for the quarter, compared to analyst estimates of $0.02 million.

HCW Biologics Stock Down 3.5%

NASDAQ HCWB opened at $0.34 on Friday. HCW Biologics has a 52 week low of $0.25 and a 52 week high of $10.50. The business’s fifty day simple moving average is $0.45 and its 200-day simple moving average is $1.25. The firm has a market cap of $2.27 million, a PE ratio of -0.03 and a beta of 1.13.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HCW Biologics in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, HCW Biologics has an average rating of “Hold” and a consensus price target of $35.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC purchased a new position in shares of HCW Biologics Inc. (NASDAQ:HCWB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned 9.15% of HCW Biologics as of its most recent SEC filing. Institutional investors and hedge funds own 2.96% of the company’s stock.

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.