HCW Biologics Inc. (NASDAQ:HCWB) Short Interest Down 85.9% in May

HCW Biologics Inc. (NASDAQ:HCWB) was the target of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 40,700 shares, a decline of 85.9% from the May 15th total of 288,400 shares. Currently, 3.5% of the shares of the company are short sold. Based on an average daily trading volume, of 637,500 shares, the days-to-cover ratio is currently 0.1 days.

Insiders Place Their Bets

In other HCW Biologics news, SVP Lee Flowers purchased 962 shares of HCW Biologics stock in a transaction dated Thursday, May 8th. The stock was purchased at an average price of $26.00 per share, with a total value of $25,012.00. Following the transaction, the senior vice president now directly owns 5,720 shares of the company’s stock, valued at $148,720. This trade represents a 20.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rebecca Byam purchased 8,462 shares of HCW Biologics stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $26.00 per share, with a total value of $220,012.00. Following the transaction, the chief financial officer now directly owns 43,010 shares in the company, valued at approximately $1,118,260. The trade was a 24.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 11,732 shares of company stock valued at $305,032. 42.70% of the stock is owned by insiders.

HCW Biologics Stock Down 4.9%

NASDAQ:HCWB opened at $5.22 on Thursday. The business’s 50-day simple moving average is $7.73 and its two-hundred day simple moving average is $12.67. The stock has a market cap of $7.51 million, a PE ratio of -5.22 and a beta of 0.83. HCW Biologics has a 52 week low of $5.00 and a 52 week high of $100.80.

HCW Biologics (NASDAQ:HCWB) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) EPS for the quarter. HCW Biologics had a negative net margin of 1,067.82% and a negative return on equity of 2,516.84%.

Analysts Set New Price Targets

HCWB has been the subject of several analyst reports. Wall Street Zen upgraded HCW Biologics to a “hold” rating in a research note on Friday, June 6th. Maxim Group reduced their price objective on HCW Biologics from $120.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, May 29th.

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.