HCW Biologics (NASDAQ:HCWB) Receives New Coverage from Analysts at Maxim Group

Maxim Group started coverage on shares of HCW Biologics (NASDAQ:HCWBGet Rating) in a research note issued to investors on Friday, TipRanks reports. The firm set a “buy” rating and a $4.00 price target on the stock. Maxim Group’s price objective indicates a potential upside of 85.19% from the stock’s previous close.

HCW Biologics stock traded down $0.05 during midday trading on Friday, reaching $2.16. The stock had a trading volume of 6,070 shares, compared to its average volume of 14,422. HCW Biologics has a twelve month low of $1.89 and a twelve month high of $7.78. The stock’s 50-day simple moving average is $2.42 and its 200 day simple moving average is $2.44.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in HCW Biologics by 136.8% in the first quarter. BlackRock Inc. now owns 39,583 shares of the company’s stock valued at $108,000 after purchasing an additional 22,869 shares during the period. HighTower Advisors LLC raised its position in HCW Biologics by 2,056.0% in the first quarter. HighTower Advisors LLC now owns 215,598 shares of the company’s stock valued at $588,000 after purchasing an additional 205,598 shares during the period. State Street Corp purchased a new position in HCW Biologics in the fourth quarter valued at about $47,000. Geode Capital Management LLC raised its position in HCW Biologics by 98.8% in the fourth quarter. Geode Capital Management LLC now owns 42,476 shares of the company’s stock valued at $98,000 after purchasing an additional 21,114 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in HCW Biologics in the fourth quarter valued at about $28,000. 1.03% of the stock is currently owned by institutional investors.

HCW Biologics Company Profile (Get Rating)

HCW Biologics Inc, a preclinical stage biopharmaceutical company, focuses on discovering and developing novel immunotherapies for chronic, low-grade inflammation, and age-related diseases. The company's lead products include HCW9218, which is an injectable immunotherapeutic for patients with pancreatic, ovarian, breast, prostate, and colorectal cancers, as well as pulmonary fibrosis; and HCW9302 for auto-immune diseases, such as alopecia areata and metabolic diseases.

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