HCW Biologics (NASDAQ:HCWB) Shares Up 21.1% – Time to Buy?

HCW Biologics Inc. (NASDAQ:HCWB)’s share price shot up 21.1% on Wednesday . The company traded as high as $4.88 and last traded at $4.88. 957,623 shares were traded during mid-day trading, a decline of 26% from the average session volume of 1,287,002 shares. The stock had previously closed at $4.03.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HCWB. Wall Street Zen lowered shares of HCW Biologics from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HCW Biologics in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.00.

HCW Biologics Price Performance

The stock has a market capitalization of $10.50 million, a PE ratio of -0.35 and a beta of 0.62. The stock’s 50 day simple moving average is $4.37 and its two-hundred day simple moving average is $6.03.

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

Institutional Trading of HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Golden State Wealth Management LLC purchased a new stake in shares of HCW Biologics Inc. (NASDAQ:HCWB) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $40,000. Golden State Wealth Management LLC owned approximately 0.69% of HCW Biologics at the end of the most recent quarter. 2.96% of the stock is currently owned by 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.