Symbols / HCWB Stock $0.27 -10.70% HCW Biologics Inc.

Healthcare • Biotechnology • United States • NCM
HCWB (Stock) Chart
About

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, a clinical-stage bifunctional molecule, which has completed Phase 1 to treat chemotherapy-refractory solid tumor cancers and Phase 1b/2 to treat pancreatic cancer; and HCW9302, injectable and interleukin 2 (IL-2) fusion protein complex, which is in phase 1 for autoimmune and proinflammatory diseases, such as alopecia areata diseases. It also develops HCW9201 and HCW9206, novel immunotherapeutic for memory-like natural killer cells, cancer, and pathogens; HCW11-006, an immune cell stimulator; HCW11-002 and HCW11-0027, which are immune checkpoint inhibitors to treat oncology and other senescence-associated indications; and HCW11-018, a fusions and immune cell engagers to treat cancer. The company has a license agreement with Wugen Inc. to develop cell therapy-based treatments; and a license, research and co-development agreement with WY Biotech Co., Ltd. for its preclinical molecules. HCW Biologics Inc. was incorporated in 2018 and is headquartered in Miramar, Florida.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Biotechnology Market Cap 1.54M
Enterprise Value 7.35M Income -7.96M Sales 54.23K
Book/sh -0.80 Cash/sh 0.29 Dividend Yield —
Payout 0.00% Employees — IPO —
P/E — Forward P/E -0.49 PEG —
P/S 28.44 P/B -0.33 P/C —
EV/EBITDA -0.69 EV/Sales 135.59 Quick Ratio 0.09
Current Ratio 0.11 Debt/Eq 271.33 LT Debt/Eq —
EPS (ttm) -10.63 EPS next Y -0.55 EPS Growth —
Revenue Growth -93.20% Earnings 2026-03-31 17:00 ROA -26.62%
ROE — ROIC — Gross Margin 20.00%
Oper. Margin -109.66% Profit Margin 0.00% Shs Outstand 3.52M
Shs Float 5.99M Short Float 1.40% Short Ratio 0.26
Short Interest — 52W High 17.80 52W Low 0.25
Beta — Avg Volume 8.45M Volume 775.47K
Target Price $2.00 Recom None Prev Close $0.30
Price $0.27 Change -10.70%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$2.00
Mean price target
2. Current target
$0.27
Latest analyst target
3. DCF / Fair value
$-77.51
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$0.27
Low
$2.00
High
$2.00
Mean
$2.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-05-29 main Maxim Group Buy → Buy $35
2023-04-19 reit EF Hutton — → Buy $9
2023-03-30 reit EF Hutton — → Buy $9
2023-03-23 reit EF Hutton — → Buy $9
2022-11-08 init JonesTrading — → Buy $8
2022-03-24 init Maxim Group — → Buy $4
2021-11-19 init EF Hutton — → Buy $10
News
RSS: Latest HCWB news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2025-05-16 WONG HING C Chief Executive Officer — 8,054 $7.45 $60,002
2025-05-16 GARRETT SCOTT T Director — 13,423 $7.45 $100,001
2025-05-16 WINER GARY M Director — 1,342 $7.45 $9,998
2025-05-08 WONG HING C Chief Executive Officer — 92,500 $7.15 $661,375
2025-05-08 BYAM REBECCA Chief Financial Officer — 8,462 $7.15 $60,503
2025-05-08 FLOWERS LEE Officer — 962 $7.15 $6,878
2025-05-08 GARRETT SCOTT T Director — 5,385 $7.15 $38,503
2025-05-08 GREENE RICK SCOTT Director — 962 $7.15 $6,878
2025-05-08 WINER GARY M Director — 2,308 $7.15 $16,502
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
0.05
-97.89%
2.57
-9.68%
2.84
-57.72%
6.72
Operating Revenue
0.05
-97.89%
2.57
-9.68%
2.84
-57.72%
6.72
Cost Of Revenue
0.04
-97.30%
1.61
-29.54%
2.28
-44.84%
4.14
Reconciled Cost Of Revenue
0.04
-93.60%
0.68
-52.06%
1.41
-62.38%
3.76
Gross Profit
0.01
-98.87%
0.96
+71.21%
0.56
-78.33%
2.59
Operating Expense
11.27
-60.59%
28.59
+8.79%
26.28
+48.75%
17.67
Research And Development
5.44
-14.81%
6.39
-16.77%
7.68
-17.80%
9.34
Selling General And Administration
5.59
-74.54%
21.95
+67.72%
13.08
+63.79%
7.99
General And Administrative Expense
5.59
-74.54%
21.95
+67.72%
13.08
+63.79%
7.99
Salaries And Wages
2.78
+8.61%
2.56
-20.30%
3.22
-4.81%
3.38
Other Gand A
2.61
-86.38%
19.18
+97.47%
9.71
+116.94%
4.48
Total Expenses
11.31
-62.54%
30.20
+5.73%
28.56
+31.00%
21.80
Operating Income
-11.26
+59.26%
-27.63
-7.43%
-25.72
-70.55%
-15.08
Total Operating Income As Reported
-13.16
+55.32%
-29.46
-14.54%
-25.72
-70.55%
-15.08
EBITDA
-5.67
+79.51%
-27.66
-17.31%
-23.58
-67.73%
-14.06
Normalized EBITDA
-3.63
+86.87%
-27.66
-17.31%
-23.58
-67.73%
-14.06
Reconciled Depreciation
1.04
-12.04%
1.18
+4.33%
1.14
+58.14%
0.72
EBIT
-6.71
+76.74%
-28.84
-16.72%
-24.71
-67.26%
-14.77
Total Unusual Items
-2.04
0.00
+100.00%
-6.57
—
Total Unusual Items Excluding Goodwill
-2.04
0.00
+100.00%
-6.57
—
Special Income Charges
-1.50
0.00
+100.00%
-6.57
—
Other Special Charges
—
15.91
+142.11%
6.57
—
Impairment Of Capital Assets
1.50
0.00
—
—
Net Income
-7.96
+73.49%
-30.02
-20.12%
-24.99
-67.74%
-14.90
Pretax Income
-7.96
+73.49%
-30.02
-20.12%
-24.99
-67.74%
-14.90
Net Non Operating Interest Income Expense
-1.25
-5.81%
-1.18
-317.46%
-0.28
-123.47%
-0.13
Interest Expense Non Operating
1.25
+5.81%
1.18
+317.46%
0.28
+123.47%
0.13
Net Interest Income
-1.25
-5.81%
-1.18
-317.46%
-0.28
-123.47%
-0.13
Interest Expense
1.25
+5.81%
1.18
+317.46%
0.28
+123.47%
0.13
Interest Income Non Operating
—
—
—
—
Interest Income
—
—
—
—
Other Income Expense
4.55
+474.92%
-1.21
-220.59%
1.01
+230.10%
0.30
Other Non Operating Income Expenses
6.59
+642.88%
-1.21
-220.59%
1.01
+230.10%
0.30
Gain On Sale Of Security
-0.54
—
—
—
Tax Rate For Calcs
0.00
0.00
0.00
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-7.96
+73.49%
-30.02
-20.12%
-24.99
-67.74%
-14.90
Net Income From Continuing Operation Net Minority Interest
-7.96
+73.49%
-30.02
-20.12%
-24.99
-67.74%
-14.90
Net Income From Continuing And Discontinued Operation
-7.96
+73.49%
-30.02
-20.12%
-24.99
-67.74%
-14.90
Net Income Continuous Operations
-7.96
+73.49%
-30.02
-20.12%
-24.99
-67.74%
-14.90
Normalized Income
-5.92
+80.27%
-30.02
-20.12%
-24.99
-67.74%
-14.90
Net Income Common Stockholders
-22.30
+25.73%
-30.02
-20.12%
-24.99
-67.74%
-14.90
Otherunder Preferred Stock Dividend
14.34
0.00
—
—
Diluted EPS
-10.63
+65.67%
-30.96
-10.57%
-28.00
-66.67%
-16.80
Basic EPS
-10.63
+65.67%
-30.96
-10.57%
-28.00
-66.67%
-16.80
Basic Average Shares
2.10
+116.30%
0.97
+7.97%
0.90
+0.30%
0.90
Diluted Average Shares
2.10
+116.30%
0.97
+7.97%
0.90
+0.30%
0.90
Diluted NI Availto Com Stockholders
-22.30
+25.73%
-30.02
-20.12%
-24.99
-67.74%
-14.90
Depreciation Amortization Depletion Income Statement
0.24
-6.84%
0.25
-4.63%
0.27
-21.18%
0.34
Depreciation And Amortization In Income Statement
0.24
-6.84%
0.25
-4.63%
0.27
-21.18%
0.34
Depreciation Income Statement
0.24
-6.84%
0.25
-4.63%
0.27
-21.18%
0.34
Provision For Doubtful Accounts
—
1.30
-75.24%
5.25
0.00
Rent And Landing Fees
0.19
-6.77%
0.21
+31.06%
0.16
+18.13%
0.13
Rent Expense Supplemental
0.19
-6.77%
0.21
+31.06%
0.16
+18.13%
0.13
Line Item Trend 2023-12-31
Total Assets
28.51
Current Assets
6.40
Cash Cash Equivalents And Short Term Investments
3.60
Cash And Cash Equivalents
3.60
Cash Equivalents
1.63
Cash Financial
1.97
Other Short Term Investments
0.00
Receivables
1.54
Accounts Receivable
1.54
Prepaid Assets
1.04
Other Current Assets
0.23
Total Non Current Assets
22.11
Net PPE
20.45
Gross PPE
23.49
Accumulated Depreciation
-3.03
Properties
0.00
Land And Improvements
2.15
Buildings And Improvements
6.11
Machinery Furniture Equipment
0.52
Construction In Progress
10.44
Other Properties
3.91
Leases
0.35
Investments And Advances
1.60
Other Non Current Assets
0.06
Total Liabilities Net Minority Interest
15.05
Current Liabilities
8.75
Payables And Accrued Expenses
8.75
Payables
6.17
Accounts Payable
6.17
Current Accrued Expenses
2.58
Current Debt And Capital Lease Obligation
—
Current Debt
—
Total Non Current Liabilities Net Minority Interest
6.30
Long Term Debt And Capital Lease Obligation
6.30
Long Term Debt
6.30
Other Non Current Liabilities
—
Stockholders Equity
13.46
Common Stock Equity
13.46
Capital Stock
0.00
Common Stock
0.00
Preferred Stock
—
Share Issued
0.90
Ordinary Shares Number
0.90
Treasury Shares Number
0.00
Additional Paid In Capital
83.99
Retained Earnings
-70.53
Total Equity Gross Minority Interest
13.46
Total Capitalization
19.77
Working Capital
-2.34
Invested Capital
19.77
Total Debt
6.30
Net Debt
2.71
Net Tangible Assets
13.46
Tangible Book Value
13.46
Line Of Credit
0.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-13.39
+5.87%
-14.23
+36.81%
-22.51
-116.77%
-10.39
Cash Flow From Continuing Operating Activities
-13.39
+5.87%
-14.23
+36.81%
-22.51
-116.77%
-10.39
Net Income From Continuing Operations
-7.96
+73.49%
-30.02
-20.12%
-24.99
-67.74%
-14.90
Depreciation Amortization Depletion
1.04
-12.04%
1.18
+4.33%
1.14
+58.14%
0.72
Depreciation And Amortization
1.04
-12.04%
1.18
+4.33%
1.14
+58.14%
0.72
Other Non Cash Items
-1.04
-247976.79%
-0.00
+74.99%
-0.00
-179.99%
0.00
Stock Based Compensation
0.77
-23.82%
1.01
+0.52%
1.00
-10.39%
1.12
Provisionand Write Offof Assets
—
0.00
-100.00%
5.25
0.00
Asset Impairment Charge
1.50
0.00
—
—
Operating Gains Losses
-5.20
—
-0.02
—
Gain Loss On Investment Securities
0.26
—
-0.02
—
Unrealized Gain Loss On Investment Securities
0.27
0.00
+100.00%
-0.25
-233.31%
0.19
Change In Working Capital
-2.78
-120.45%
13.60
+392.99%
-4.64
-286.61%
2.49
Change In Receivables
0.55
-42.32%
0.95
+185.29%
-1.12
-292.72%
-0.28
Changes In Account Receivables
0.55
-42.32%
0.95
+185.29%
-1.12
-292.72%
-0.28
Change In Prepaid Assets
0.14
-82.93%
0.83
+117.26%
-4.82
-294.04%
2.48
Change In Payables And Accrued Expense
-3.47
-129.25%
11.87
+633.30%
1.62
+287.21%
0.42
Change In Payable
-3.47
-129.25%
11.87
+633.30%
1.62
+287.21%
0.42
Change In Account Payable
-3.47
-129.25%
11.87
+633.30%
1.62
+287.21%
0.42
Change In Other Current Liabilities
0.00
+100.00%
-0.06
+82.70%
-0.33
-154.78%
-0.13
Investing Cash Flow
0.00
+100.00%
-0.26
-106.89%
3.80
-74.18%
14.71
Cash Flow From Continuing Investing Activities
0.00
+100.00%
-0.26
-106.89%
3.80
-74.18%
14.71
Net PPE Purchase And Sale
0.00
+100.00%
-0.26
+95.78%
-6.20
+39.63%
-10.28
Purchase Of PPE
0.00
+100.00%
-0.26
+95.78%
-6.20
+39.63%
-10.28
Capital Expenditure
—
-0.26
+95.78%
-6.20
+39.63%
-10.28
Net Investment Purchase And Sale
—
0.00
-100.00%
10.00
-59.97%
24.98
Purchase Of Investment
—
—
—
0.00
Sale Of Investment
—
0.00
-100.00%
10.00
-59.97%
24.98
Financing Cash Flow
10.67
-31.47%
15.57
+107217.90%
-0.01
-100.23%
6.27
Cash Flow From Continuing Financing Activities
10.67
-31.47%
15.57
+107217.90%
-0.01
-100.23%
6.27
Net Issuance Payments Of Debt
0.02
-99.67%
6.79
+17829.48%
-0.04
-100.59%
6.45
Issuance Of Debt
0.15
-97.83%
6.91
0.00
-100.00%
6.45
Repayment Of Debt
-0.13
-6.89%
-0.12
-211.96%
-0.04
0.00
Long Term Debt Issuance
0.15
-97.83%
6.91
0.00
-100.00%
6.45
Long Term Debt Payments
-0.13
-6.89%
-0.12
-211.96%
-0.04
0.00
Net Long Term Debt Issuance
0.02
-99.67%
6.79
+17829.48%
-0.04
-100.59%
6.45
Net Common Stock Issuance
8.03
+24.31%
6.46
+27124.54%
0.02
+50.46%
0.02
Proceeds From Stock Option Exercised
3.82
+29.23%
2.96
0.00
—
Net Other Financing Charges
-1.21
-89.61%
-0.64
—
-0.19
Changes In Cash
-2.72
-352.17%
1.08
+105.76%
-18.73
-276.78%
10.60
Beginning Cash Position
4.67
+30.03%
3.60
-83.90%
22.33
+90.32%
11.73
End Cash Position
1.95
-58.23%
4.67
+30.03%
3.60
-83.90%
22.33
Free Cash Flow
-13.39
+7.57%
-14.49
+49.54%
-28.72
-38.99%
-20.66
Interest Paid Supplemental Data
0.28
-50.32%
0.57
+101.30%
0.28
+123.47%
0.13
Common Stock Issuance
8.03
+24.31%
6.46
+27124.54%
0.02
+50.46%
0.02
Issuance Of Capital Stock
8.03
+24.31%
6.46
+27124.54%
0.02
+50.46%
0.02
Net Preferred Stock Issuance
—
—
—
—
Preferred Stock Issuance
—
—
—
—
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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