Wall Street Zen Downgrades HCW Biologics (NASDAQ:HCWB) to Sell

HCW Biologics (NASDAQ:HCWB) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Friday.

Separately, Maxim Group lowered their price target on shares of HCW Biologics from $120.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, May 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $35.00.

HCW Biologics Trading Up 4.2%

NASDAQ HCWB opened at $3.45 on Friday. The company has a fifty day simple moving average of $4.33 and a two-hundred day simple moving average of $8.40. HCW Biologics has a 12-month low of $2.77 and a 12-month high of $100.80. The stock has a market cap of $7.42 million, a P/E ratio of -0.25 and a beta of 0.66.

HCW Biologics (NASDAQ:HCWB) last announced its earnings results on Monday, August 18th. The company reported ($6.79) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($8.59). The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $7.00 million.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in HCW Biologics stock. Golden State Wealth Management LLC acquired a new stake in shares of HCW Biologics Inc. (NASDAQ:HCWB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the company’s stock, valued at approximately $40,000. Golden State Wealth Management LLC owned 0.69% of HCW Biologics as of its most recent SEC filing. 2.96% of the stock is owned by hedge funds and other institutional investors.

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.