HCW Biologics Inc. (NASDAQ:HCWB) Sees Large Drop in Short Interest

HCW Biologics Inc. (NASDAQ:HCWBGet Rating) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 11,900 shares, a drop of 7.8% from the August 15th total of 12,900 shares. Based on an average daily trading volume, of 17,300 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.1% of the shares of the stock are sold short.

Insider Activity

In related news, CFO Rebecca Byam acquired 50,000 shares of the stock in a transaction dated Wednesday, August 24th. The shares were purchased at an average price of $2.50 per share, for a total transaction of $125,000.00. Following the transaction, the chief financial officer now owns 205,452 shares in the company, valued at approximately $513,630. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have purchased 104,000 shares of company stock worth $265,230. 44.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On HCW Biologics

A hedge fund recently raised its stake in HCW Biologics stock. BlackRock Inc. increased its holdings in HCW Biologics Inc. (NASDAQ:HCWBGet Rating) by 136.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,583 shares of the company’s stock after purchasing an additional 22,869 shares during the quarter. BlackRock Inc. owned 0.11% of HCW Biologics worth $108,000 as of its most recent filing with the Securities & Exchange Commission. 1.59% of the stock is owned by hedge funds and other institutional investors.

HCW Biologics Stock Performance

HCW Biologics stock opened at $2.42 on Tuesday. The firm’s fifty day moving average price is $2.41 and its 200-day moving average price is $2.35. HCW Biologics has a fifty-two week low of $1.76 and a fifty-two week high of $7.05.

About HCW Biologics

(Get Rating)

HCW Biologics Inc, a preclinical stage biopharmaceutical company, focuses on discovering and developing novel immunotherapies for chronic, low-grade inflammation, and age-related diseases. The company's lead products include HCW9218, which is an injectable immunotherapeutic for patients with pancreatic, ovarian, breast, prostate, and colorectal cancers, as well as pulmonary fibrosis; and HCW9302 for auto-immune diseases, such as alopecia areata and metabolic diseases.

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