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HCW Biologics Inc. Stock: price and insider trades · United States
3 insiders bought €88k of shares over the last 90 days, the latest by Flowers Lee, filed 31 Jul 2026.
HCW Biologics Inc.: what insiders have been doing
HCW Biologics Inc. belongs to the Healthcare & Pharma sector. Filings by its managers are published through SEC (Form 4). Between 22 October 2025 and 22 October 2026, 4 insiders published 5 filings.
Every open-market trade in the period is a purchase: 5 purchases worth €320k, from 4 insiders, and not a single sale. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. The buyers include 2 senior executives, 1 finance chief and 1 chief executive. The largest single trade was a purchase of €215k by Garrett Scott T, published on 27 May 2026, equal to 6.2% of the market capitalisation.
In all, 5 purchases were made within 30 days of a purchase by another insider of the company. Such overlaps are known as a cluster signal: distinct people reaching the same decision at about the same time. The last insider purchase was made public on 31 July 2026, 84 days ago. The median gap between a trade and its publication by SEC (Form 4) is 2 days. US insiders must file a Form 4 within two business days of a trade.
For context, the typical company on the same exchange (median of 3,171 companies) published 24 filings over the same period, against 5 filings here. The full history, which starts in 2021, counts 89 purchases against no sales. In its latest annual report filed with the SEC (10-K, fiscal year ended 31 December 2025), the company reported revenue of 54,232 USD and net income of -8.0 m USD.
This summary is built from SEC (Form 4) disclosures alone and does not predict where the share price will go.
Insider Decl.
113
Thresholds
n/a
Buy Volume
€10M
89 ops. · all time
Sell Volume
n/a
n/a
Who traded when
BuySaleScott T. Garrett4 buys
Hing C. Wong3 buys
Gary M. Winer2 buys
Lee Flowers2 buys
Rebecca Byam2 buys
Rick S. Greene1 buy
Since the insiders bought
- -65.3%Entry US$3.34 · Close 21 Oct 2026 US$1.16
- -65.3%Entry US$3.34 · Close 21 Oct 2026 US$1.16
- -65.3%Entry US$3.34 · Close 21 Oct 2026 US$1.16
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Analyst consensus: bullish or bearish?
Analysts rate HCW Biologics Inc. Buy (bullish), based on 1 analysts. Average price target: US$48.00.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Financial data
as of FY 2025FY ended December 2025 · cache
US$1.17
Analyst consensus
1 analystsBuy
US$48.00Target US$48.00(+4003%)US$48.00
Income statement
RevenueUS$54.2k
Gross profitUS$10.8k20% margin
EBITDA-US$5.7M-10451% margin
Net income-US$8M-83.0% margin
Valuation
P/Book0.3x
Beta2.42
Balance sheet & cash
Market capUS$2.6M
Total debtUS$6.8M
Free Cash Flow-US$13.4M
Debt / Equity88%
Profitability & ownership
ROE-151.4%
ROA-13.9%
% insiders8.0%
% institutions7.4%
Last declaration on 31 July 2026
Declarations113 total
23,210 shares@ US$2.5851.69% mcap1.6% of flowCommon StockSEC:0001493152-26-035634:0
Canonical exit: 27 Oct 2026 (T+90)
7,736 shares@ US$2.5850.56% mcap3.9% of flowCommon StockSEC:0001493152-26-035631:0
Canonical exit: 27 Oct 2026 (T+90)
7,736 shares@ US$2.5850.56% mcap1.2% of flowCommon StockSEC:0001493152-26-035619:0
Canonical exit: 27 Oct 2026 (T+90)
14,235 shares@ US$1.4050.50% mcap0.9% of flowCommon StockSEC:0001493152-26-025474:0
Canonical exit: 20 Aug 2026 (T+90)
177,936 shares@ US$1.4056.25% mcap14.5% of flowCommon StockSEC:0001493152-26-025476:0
Canonical exit: 20 Aug 2026 (T+90)
13,423 shares@ US$7.456.0% of flowCommon StockSEC:0000950170-25-075252:0
Canonical exit: 14 Aug 2025 (T+90)
8,054 shares@ US$7.451.6% of flowCommon StockSEC:0000950170-25-075259:0
Canonical exit: 14 Aug 2025 (T+90)
1,342 shares@ US$7.4512.9% of flowCommon StockSEC:0000950170-25-075255:0
Canonical exit: 14 Aug 2025 (T+90)
8,462 shares@ US$26.0010.1% of flowCommon StockSEC:0000950170-25-068281:0
Canonical exit: 6 Aug 2025 (T+90)
5,385 shares@ US$26.008.4% of flowCommon StockSEC:0000950170-25-068287:0
Canonical exit: 6 Aug 2025 (T+90)
2,308 shares@ US$26.0077.1% of flowCommon StockSEC:0000950170-25-068294:0
Canonical exit: 6 Aug 2025 (T+90)
962 shares@ US$26.0024.6% of flowCommon StockSEC:0000950170-25-068271:0
Canonical exit: 6 Aug 2025 (T+90)
962 shares@ US$26.004.9% of flowCommon StockSEC:0000950170-25-068275:0
Canonical exit: 6 Aug 2025 (T+90)
92,500 shares@ US$26.0064.5% of flowCommon StockSEC:0000950170-25-068292:0
Canonical exit: 6 Aug 2025 (T+90)
35,715 shares@ US$1.40100.0% of flowCommon StockSEC:0001209191-24-003785:0
71,429 shares@ US$1.4020.5% of flowCommon StockSEC:0001209191-24-003783:0
142,858 shares@ US$1.4012.5% of flowCommon StockSEC:0001209191-24-003784:0
35,714 shares@ US$1.4051.2% of flowCommon StockSEC:0001209191-24-003786:0
739,288 shares@ US$1.4028.9% of flowCommon StockSEC:0001209191-24-003787:0
760,714 shares@ US$1.4051.1% of flowCommon StockSEC:0001209191-24-003782:0
7,501 shares@ US$0.140.2% of flowCommon StockSEC:0001209191-23-058081:0
14,000 shares@ US$0.142.0% of flowCommon StockSEC:0001209191-23-058082:0
15,000 shares@ US$0.142.2% of flowCommon StockSEC:0001209191-23-056086:0
47,249 shares@ US$0.140.3% of flowCommon StockSEC:0001209191-23-053344:0
1,800 shares@ US$2.07820.1% of flowCommon StockSEC:0001209191-23-049774:0
Canonical exit: 13 Dec 2023 (T+90)
25 of 113 declarations
About HCW Biologics Inc.
HCW Biologics Inc. (Nasdaq: HCWB) is a U.S.-based clinical-stage biopharmaceutical company listed on the NASDAQ market in the United States and headquartered in Miramar, Florida, United States. Founded in 2018 by Dr. Hing C. Wong, the company is focused on developing next-generation immunotherapies designed to address diseases driven by chronic inflammation and biological aging, often described by management as “inflammaging.” Its overarching thesis is to improve healthspan by intervening in inflammatory pathways linked to cancers, autoimmune disorders, neurodegenerative conditions and other senescence-associated diseases.
Operationally, HCW Biologics centers its research and development efforts on proprietary fusion immunotherapeutics built on its TRBC platform, which stands for T-cell Receptor beta Chain constant region. This technology platform is the company’s core differentiator and underpins several classes of product concepts, including multifunctional immune stimulators, second-generation immune checkpoint inhibitors, multispecific targeting fusions and immune-cell engagers. Two of the most visible programs are HCW11-018b, a second-generation tetravalent T-cell engager, and HCW11-040, a pembrolizumab-based tetravalent immune checkpoint inhibitor, both aimed at solid-tumor indications. The company also references commercial-ready proprietary compounds intended for use as reagents in the production of immunotherapeutics, although HCW remains primarily a development-stage organization.
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From a competitive perspective, HCW Biologics operates in a crowded and capital-intensive biotech landscape dominated by much larger companies. Its investment case is therefore driven by scientific differentiation, platform optionality and the potential to generate high-value assets in difficult therapeutic areas rather than by scale or current revenue generation. For investors, this implies a classic small-cap biotech risk profile: substantial upside if clinical and regulatory milestones are achieved, but meaningful dependence on capital access, data quality and execution.
The company’s geographic footprint is overwhelmingly U.S.-centric, with its principal executive office in Miramar, Florida, and its operating strategy anchored in discovery and development rather than a broad commercial sales infrastructure. That makes HCW Biologics more of an innovation platform than a mature pharmaceutical business.
Recent company developments have been active. In May 2026, HCW Biologics reported first-quarter 2026 business highlights and financial results and announced further updates for its T-cell engager program, including new data on mechanism of action and validation of Tissue Factor as a target for solid tumors. The company also highlighted its inclusion in the S&P TMI Index in 2026, which can improve visibility among institutional investors, while continuing to manage the financing and listing-related issues that are common for early-stage public biotech companies. Overall, HCWB should be viewed as a speculative NASDAQ-listed biotechnology name with value creation tied primarily to clinical progress and platform validation, not to recurring commercial sales.
