HCW Biologics Inc. (NASDAQ:HCWB – Free Report)’s stock is set to reverse split before the market opens on Tuesday, June 30th. The 1-6 reverse split was announced on Friday, June 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 29th.
HCW Biologics Stock Down 8.0%
HCWB stock traded down $0.09 during trading on Friday, hitting $1.03. The company had a trading volume of 479,534 shares, compared to its average volume of 10,771,115. The firm has a 50-day moving average price of $1.12 and a 200-day moving average price of $1.01. HCW Biologics has a 12 month low of $0.25 and a 12 month high of $7.35. The stock has a market cap of $7.37 million, a price-to-earnings ratio of -0.11 and a beta of 2.21.
HCW Biologics (NASDAQ:HCWB – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.81. The firm had revenue of $6.54 million for the quarter, compared to the consensus estimate of $6.54 million. HCW Biologics had a negative return on equity of 486.87% and a negative net margin of 34.73%.
Analysts Set New Price Targets
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Insider Activity at HCW Biologics
In related news, Director Scott T. Garrett acquired 177,936 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of $1.41 per share, for a total transaction of $250,889.76. Following the completion of the acquisition, the director owned 203,441 shares of the company’s stock, valued at $286,851.81. This trade represents a 697.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On HCW Biologics
An institutional investor recently bought a new stake in HCW Biologics stock. Armistice Capital LLC purchased a new stake in HCW Biologics Inc. (NASDAQ:HCWB – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned about 9.15% of HCW Biologics at the end of the most recent reporting period. 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.
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