HCW Biologics Inc. (NASDAQ:HCWB) Sees Significant Drop in Short Interest
by Michael Walen · The Markets DailyHCW Biologics Inc. (NASDAQ:HCWB – Get Free Report) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 23,758 shares, a drop of 56.0% from the January 29th total of 53,964 shares. Based on an average daily volume of 115,610 shares, the short-interest ratio is presently 0.2 days. Currently, 1.3% of the company’s stock are sold short. Currently, 1.3% of the company’s stock are sold short. Based on an average daily volume of 115,610 shares, the short-interest ratio is presently 0.2 days.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of HCW Biologics in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.00.
View Our Latest Stock Report on HCWB
Institutional Trading of HCW Biologics
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 – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. 2.96% of the stock is currently owned by hedge funds and other institutional investors.
HCW Biologics Price Performance
Shares of NASDAQ:HCWB traded down $0.02 during trading on Friday, reaching $0.53. 20,129 shares of the company’s stock traded hands, compared to its average volume of 107,720. The stock has a market capitalization of $1.72 million, a P/E ratio of -0.04 and a beta of 0.72. HCW Biologics has a 12 month low of $0.50 and a 12 month high of $17.80. The company has a 50 day moving average of $1.09 and a 200-day moving average of $2.71.
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.