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HCW Biologics
(NASDAQ:HCWB)
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Rating:42Neutral
Price Target:
$1.50
▼(-52.68% Downside)
Action:Reiterated
Date:09/25/26
The score is held down primarily by persistent losses and material ongoing cash burn, despite improved TTM revenue optics and a cleaner balance sheet. Technically, the stock is in a clear downtrend (below key moving averages with negative MACD), though oversold readings modestly offset downside risk. Valuation is constrained by negative earnings and no indicated dividend, while recent corporate actions are a mild positive (funding, distribution deal, and liability clean-up) but do not fully offset the underlying cash-consumption profile.
Positive Factors
First product commercialization
The five-year distribution agreement gives HCW11-006 a route toward commercialization through Akron Biotech’s established cell and gene therapy network. This expands potential market access, creates staged commercial funding, and provides an early validation point for HCW’s TRBC platform.
Negative Factors
Persistent cash burn
Ongoing negative operating and free cash flow shows that HCW Biologics is not yet self-funding its research and development activities. Continued cash burn raises the need for additional financing and can constrain the pace of clinical execution if external capital becomes less available.
Read all positive and negative factors
Positive Factors
Negative Factors
First product commercialization
The five-year distribution agreement gives HCW11-006 a route toward commercialization through Akron Biotech’s established cell and gene therapy network. This expands potential market access, creates staged commercial funding, and provides an early validation point for HCW’s TRBC platform.
Read all positive factors
HCW Biologics (HCWB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.58M
Dividend YieldN/A
Average Volume (3M)658.99K
Price to Earnings (P/E)―
Beta (1Y)2.67
Revenue Growth707.02%
EPS Growth70.52%
CountryUS
Employees35
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-54.17
Shares Outstanding2,236,324
10 Day Avg. Volume94,232
30 Day Avg. Volume658,992
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.74
Price to Sales (P/S)37.52
P/FCF Ratio-0.15
Enterprise Value/Market Cap3.48
Enterprise Value/Revenue1.85
Enterprise Value/Gross Profit1.93
Enterprise Value/Ebitda-2.91
Forecast
1Y Price Target
$8.00Price Target Upside152.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-2.88
Revenue Forecast (FY)$6.54M
HCW Biologics Business Overview & Revenue Model
Company Description
HCW Biologics Inc. operates as a preclinical-stage biopharmaceutical firm, primarily engaged in the discovery and advancement of novel immunotherapies. Its research and development efforts are focused on addressing chronic, low-grade inflammation ...
How the Company Makes Money
HCW Biologics does not appear to have a mature, product-sales-based revenue model typical of commercial-stage biopharmaceutical companies; instead, as a clinical-stage biotech, it is generally expected to fund operations primarily through capital ...
HCW Biologics Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
48
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.72M | 54.23K | 2.57M | 2.84M | 6.72M | 0.00 |
| Gross Profit | 6.45M | 10.85K | 959.40K | 560.36K | 2.59M | 0.00 |
| EBITDA | -4.27M | -5.67M | -27.68M | -23.58M | -14.06M | -12.32M |
| Net Income | -4.92M | -7.96M | -30.02M | -24.99M | -14.90M | -12.86M |
Balance Sheet | ||||||
| Total Assets | 26.77M | 24.52M | 30.24M | 28.51M | 46.81M | 53.51M |
| Cash, Cash Equivalents and Short-Term Investments | 741.32K | 1.95M | 4.67M | 3.60M | 32.06M | 36.71M |
| Total Debt | 6.56M | 6.81M | 13.69M | 6.30M | 6.41M | 0.00 |
| Total Liabilities | 19.34M | 21.76M | 37.01M | 15.05M | 9.38M | 2.32M |
| Stockholders Equity | 7.43M | 2.76M | -6.77M | 13.46M | 37.43M | 51.19M |
Cash Flow | ||||||
| Free Cash Flow | -12.14M | -13.39M | -14.49M | -28.72M | -20.66M | -11.02M |
| Operating Cash Flow | -12.14M | -13.39M | -14.23M | -22.51M | -10.39M | -10.98M |
| Investing Cash Flow | 0.00 | 0.00 | -261.62K | 3.80M | 14.71M | -35.02M |
| Financing Cash Flow | 10.44M | 10.67M | 15.57M | -14.53K | 6.27M | 49.27M |
HCW Biologics Technical Analysis
Negative
3.17
Price Trends
2.46
Negative
4.70
Negative
4.58
Negative
Market Momentum
-0.28
Negative
33.85
Neutral
12.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HCWB, the sentiment is Negative. The current price of 3.17 is above the 20-day moving average (MA) of 1.80, above the 50-day MA of 2.46, and below the 200-day MA of 4.58, indicating a bearish trend. The MACD of -0.28 indicates Negative momentum. The RSI at 33.85 is Neutral, neither overbought nor oversold. The STOCH value of 12.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HCWB.
HCW Biologics Risk Analysis
HCW Biologics disclosed 51 risk factors in its most recent earnings report. HCW Biologics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
HCW Biologics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $11.24M | -1.01 | -63.39% | ― | ― | 19.38% | |
47 Neutral | $3.30M | -0.49 | -172.76% | ― | -45.76% | -3.77% | |
45 Neutral | $4.99M | -1.79 | -40.62% | ― | 33.30% | 40.59% | |
42 Neutral | $3.58M | -0.03 | -142.16% | ― | 707.02% | 70.52% | |
42 Neutral | $2.81M | -0.15 | -181.45% | ― | ― | 68.91% | |
42 Neutral | $3.79M | -0.02 | -372.86% | ― | ― | 53.95% |
* Healthcare Sector Average
HCWB
HCW Biologics
1.60
-23.72
-93.68%
KPRX
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2.54
-0.18
-6.62%
MTNB
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2.87
-24.65
-89.57%
XBIO
Xenetic Biosciences
2.13
-3.24
-60.34%
ADXN
Addex Therapeutics
3.22
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CLDI
Calidi Biotherapeutics
1.03
-25.05
-96.05%
HCW Biologics Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
HCW Biologics Announces Strategic $1.5 Million Financing
Positive
Sep 24, 2026
On September 23, 2026, HCW Biologics Inc. entered into a securities purchase agreement with an existing institutional investor for a $1.5 million private placement of 903,614 units, each comprising a pre-funded warrant and the right to receive a c...
Regulatory Filings and ComplianceShareholder Meetings
HCW Biologics Updates Special Meeting Proxy Materials
Neutral
Sep 10, 2026
On September 9, 2026, HCW Biologics Inc. filed Amendment No. 1 to its Preliminary Proxy Statement, revising the document originally submitted to the U.S. Securities and Exchange Commission on September 8, 2026. The company emphasized that the curr...
Business Operations and StrategyProduct-Related Announcements
HCW Biologics signs global HCW11-006 distribution deal
Positive
Sep 8, 2026
On September 4, 2026, HCW Biologics entered into a five-year Exclusive Distribution Agreement with Akron Biotech for global (excluding China) commercialization and distribution of HCW11-006 as a reagent to support cell therapy manufacturing and ot...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
HCW Biologics Announces $1.6 Million Private Placement Financing
Positive
Jul 29, 2026
On July 29, 2026, HCW Biologics Inc. entered into a securities purchase agreement for a $1.6 million private placement involving 618,682 units, each comprising common stock or a pre-funded warrant and the right to receive a common warrant, with pr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.