Humanigen (NASDAQ:HGEN) Downgraded by Zacks Investment Research

Humanigen (NASDAQ:HGENGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Humanigen, Inc. is a biopharmaceutical company. It focuses on advancing medicines for patients with neglected and rare diseases. The Company’s product candidate principally consists of benznidazole, lenzilumab and ifabotuzumab. Humanigen Inc., formerly known as KaloBios Pharmaceuticals Inc., is based in Brisbane, United States. “

HGEN opened at $1.97 on Wednesday. Humanigen has a 12-month low of $1.67 and a 12-month high of $23.53. The business’s fifty day simple moving average is $2.72 and its 200-day simple moving average is $3.80. The company has a market capitalization of $128.70 million, a price-to-earnings ratio of -0.48 and a beta of -1.01.

Humanigen (NASDAQ:HGENGet Rating) last posted its quarterly earnings results on Monday, February 28th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.09. Humanigen had a negative return on equity of 4,882.88% and a negative net margin of 6,582.73%. The business had revenue of $1.04 million for the quarter, compared to the consensus estimate of $1.01 million. On average, equities analysts forecast that Humanigen will post -1.33 EPS for the current fiscal year.

In related news, insider Dale Chappell acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The shares were bought at an average price of $3.00 per share, with a total value of $3,000,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward P. Jordan acquired 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were bought at an average cost of $2.32 per share, for a total transaction of $29,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,059,500 shares of company stock worth $3,140,310 in the last three months. Corporate insiders own 21.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of HGEN. Murchinson Ltd. boosted its position in Humanigen by 350.0% during the fourth quarter. Murchinson Ltd. now owns 4,500,000 shares of the company’s stock valued at $16,763,000 after purchasing an additional 3,500,000 shares in the last quarter. Marshall Wace LLP purchased a new stake in Humanigen in the fourth quarter valued at about $3,993,000. Millennium Management LLC raised its stake in Humanigen by 2,162.3% in the fourth quarter. Millennium Management LLC now owns 886,286 shares of the company’s stock valued at $3,297,000 after buying an additional 847,109 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Humanigen in the third quarter valued at about $3,121,000. Finally, UBS Group AG raised its stake in Humanigen by 2,996.0% in the third quarter. UBS Group AG now owns 449,723 shares of the company’s stock valued at $2,667,000 after buying an additional 435,197 shares during the last quarter. 64.34% of the stock is currently owned by institutional investors.

Humanigen Company Profile (Get Rating)

Humanigen, Inc, a clinical stage biopharmaceutical company, develops a portfolio of anti-inflammatory immunology and immuno-oncology monoclonal antibodies in the United States. The company's lead product candidate is Lenzilumab, a monoclonal antibody that targets and neutralizes human granulocyte-macrophage colony-stimulating factor, which has completed Phase III clinical trial for the treatment of cytokine storm associated with COVID-19; and Phase Ib/II clinical trial as a sequenced therapy in combination with CD19 targeted chimeric antigen receptor T-cell therapies to treat patients with relapsed or refractory B-cell lymphoma, as well as that is in Phase II clinical trial in patients with chronic myelomonocytic leukemia.

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