HCW Biologics Inc. (NASDAQ:HCWB) Short Interest Down 25.6% in March

HCW Biologics Inc. (NASDAQ:HCWB) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 42,868 shares, a decline of 25.6% from the February 26th total of 57,608 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average trading volume of 110,390 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.00.

Institutional Trading of HCW Biologics

An institutional investor recently bought a new position in HCW Biologics stock. Armistice Capital LLC acquired a new position in HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned approximately 9.15% of HCW Biologics as of its most recent SEC filing. 2.96% of the stock is currently owned by institutional investors and hedge funds.

HCW Biologics Stock Performance

HCW Biologics stock traded up $0.03 during midday trading on Friday, reaching $0.40. The stock had a trading volume of 840,646 shares, compared to its average volume of 24,976,090. The stock has a market capitalization of $1.40 million, a P/E ratio of -0.03 and a beta of 0.79. The firm’s fifty day simple moving average is $0.81 and its 200-day simple moving average is $2.11. HCW Biologics has a 1-year low of $0.36 and a 1-year high of $17.80.

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.