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Maxim Group Sticks to Its Buy Rating for HCW Biologics (HCWB)

In a report released yesterday, Michael Okunewitch from Maxim Group maintained a Buy rating on HCW Biologics (HCWBResearch Report), with a price target of $4.00. The company’s shares opened today at $2.26.

According to TipRanks, Okunewitch is an analyst with an average return of -31.7% and a 23.08% success rate. Okunewitch covers the Healthcare sector, focusing on stocks such as TFF Pharmaceuticals, Citius Pharmaceuticals, and HCW Biologics.

Currently, the analyst consensus on HCW Biologics is a Moderate Buy with an average price target of $6.00, representing a 165.62% upside. In a report released on November 7, JonesTrading also initiated coverage with a Buy rating on the stock with a $8.00 price target.

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Based on HCW Biologics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $454 thousand and a GAAP net loss of $3.51 million. In comparison, last year the company had a GAAP net loss of $2.75 million

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HCWB in relation to earlier this year. Earlier this month, Byam Rebecca, the CFO of HCWB bought 33,750.00 shares for a total of $4,725.00.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

HCW Biologics Inc is a preclinical stage biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen healthspan by disrupting the link between chronic, low-grade inflammation and age-related diseases. It is developing HCW9218 as an injectable immunotherapeutic for patients with solid tumors.

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