Heat Biologics Inc. (NASDAQ: HTBX) Loses -70.70% From High. Why That Could Change?


    Renaissance Technologies LLC recently announced the acquisition of new stake in Heat Biologics Inc. (NASDAQ:HTBX). The institutional investor has increased its shareholding in the Healthcare company by 68.58% to 3.03 million shares with purchase of 1.23 million shares. This fresh investment now brings its stake to 2.26% valued currently at $6.58 million. In addition, Magnus Financial Group LLC raised its holdings by 0.81 million to 2.25 million shares. And The Vanguard Group, Inc. has lifted its position by 4.60% or 96518.0 shares – to 2.19 million shares.

    With over 8.71 million Heat Biologics Inc. (HTBX) shares trading Monday and a closing price of $1.26 on the day, the dollar volume was approximately $10.98 million. The shares have shown a positive weekly performance of 5.00% and its price on 08/31/20 lost nearly -5.97%. Currently, there are 87.93M common shares owned by the public and among those 75.53M shares have been available to trade.

    The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Heat Biologics Inc. stock is 2.00 for the next 12 months. But an upside of 74.8% will see the stock hit the forecast high price target while mean target price for the stock is $5.00.

    Insiders at the company have transacted a total of 4 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 1,315,625 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 4,440 shares.

    The top 3 mutual fund holders in Heat Biologics Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 2.0 million shares of the company’s stock, all valued at over $4.34 million. The company bought an additional 0.72 million shares recently to bring their total holdings to about 1.49% of the shares outstanding. Vanguard Extended Market Index Fu bought 0.27 million shares to see its total holdings expand to 1.07 million shares valued at over $2.33 million and representing 0.80% of the shares outstanding. Fidelity Extended Market Index Fu sold -0.16 million shares to bring its total holdings to over 0.25 million shares at a value of $0.54 million. Fidelity Extended Market Index Fu now owns shares totaling to 0.19% of the shares outstanding.

    Shares of Heat Biologics Inc. (NASDAQ: HTBX) opened at $1.36, up $0.02 from a prior closing price of $1.34. However, the script later closed the day at $1.26, down -5.97%. The company’s stock has a 5-day price change of 5.00% and 57.99% over the past three months. HTBX shares are trading 165.26% year to date (YTD), with the 12-month market performance up to 142.35% higher. It has a 12-month low price of $0.19 and touched a high of $4.30 over the same period. Currently, 8.71 million shares have been traded, compared to an average intraday trading volume of 31.26 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -25.24%, -21.96%, and 57.49% respectively.

    Institutional ownership of Heat Biologics Inc. (NASDAQ: HTBX) shares accounts for 13.00% of the company’s 87.93M shares outstanding. Mutual fund holders own 3.36%, while other institutional holders and individual stakeholders account for 5.19% and 2.63% respectively.

    It has a market capitalization of $173.20M and a beta (3y monthly) value of 0.45. The earnings-per-share (ttm) stands at -$0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.50% over the week and 11.15% over the month.

    Analysts forecast that Heat Biologics Inc. (HTBX) will achieve an EPS of -$0.03 for the current quarter, -$0.04 for the next quarter and -$0.24 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.18 a year ago. Earnings per share for the fiscal year are expected to increase by 33.20%, and 0.00% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Heat Biologics Inc. (HTBX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the HTBX, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on June 20, 2016, with the firm’s price target at. Noble Financial coverage for the Heat Biologics Inc. (HTBX) stock in a research note released on January 08, 2016 offered a Buy rating with a price target of $16. H.C. Wainwright was of a view on May 26, 2015 that the stock is Buy, while Aegis Capital gave the stock Buy rating on September 18, 2013, issuing a price target of $36.


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