Insider Buying: HCW Biologics (NASDAQ:HCWB) Director Acquires $19,958.88 in Stock

HCW Biologics Inc. (NASDAQ:HCWB) Director Scott Garrett purchased 7,736 shares of HCW Biologics stock in a transaction on Wednesday, July 29th. The stock was acquired at an average cost of $2.58 per share, for a total transaction of $19,958.88. Following the acquisition, the director directly owned 41,644 shares of the company’s stock, valued at approximately $107,441.52. This represents a 22.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

HCW Biologics Price Performance

Shares of HCWB opened at $3.20 on Monday. HCW Biologics Inc. has a 1-year low of $1.50 and a 1-year high of $44.10. The stock has a market cap of $5.12 million, a price-to-earnings ratio of -0.06 and a beta of 2.32. The firm has a 50 day simple moving average of $6.50 and a 200-day simple moving average of $5.18.

HCW Biologics (NASDAQ:HCWB) last posted its earnings results on Thursday, May 14th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.64) by $3.01. HCW Biologics had a negative return on equity of 486.87% and a negative net margin of 34.73%.The firm had revenue of $6.54 million for the quarter, compared to analyst estimates of $6.54 million.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HCWB. Weiss Ratings reissued a “sell (e+)” rating on shares of HCW Biologics in a report on Friday, July 17th. Wall Street Zen raised HCW Biologics to a “hold” rating in a research note on Saturday, May 23rd. Finally, Maxim Group lifted their price objective on HCW Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.00.

Institutional Trading of HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC bought a new position in HCW Biologics Inc. (NASDAQ:HCWB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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 filing with the Securities and Exchange Commission. 2.96% of the stock is 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.