HCW Biologics (NASDAQ:HCWB) Trading Down 7.1% – Here’s What Happened

HCW Biologics Inc. (NASDAQ:HCWB) traded down 7.1% during mid-day trading on Monday . The company traded as low as $1.96 and last traded at $1.97. 20,121 shares traded hands during trading, a decline of 97% from the average session volume of 784,371 shares. The stock had previously closed at $2.12.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HCWB. Wall Street Zen lowered shares of HCW Biologics from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of HCW Biologics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, HCW Biologics currently has a consensus rating of “Hold” and an average price target of $35.00.

HCW Biologics Stock Performance

The stock has a market cap of $5.32 million, a PE ratio of -0.14 and a beta of 0.63. The firm has a fifty day moving average price of $3.43 and a 200 day moving average price of $4.50.

HCW Biologics (NASDAQ:HCWB) last announced its earnings results on Friday, November 14th. The company reported ($2.02) earnings per share for the quarter, missing the consensus estimate of $1.58 by ($3.60). The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $7.00 million.

Hedge Funds Weigh In On HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Golden State Wealth Management LLC bought a new position in HCW Biologics Inc. (NASDAQ:HCWB) in the second quarter, according to its most recent filing with the SEC. The firm bought 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.96% of the company’s stock.

HCW Biologics Company Profile

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.