Heat Biologics (HTBX) Sees Strong Trading Volume

Shares of Heat Biologics (NASDAQ:HTBX) saw unusually-strong trading volume on Wednesday . Approximately 8,848,146 shares were traded during mid-day trading, an increase of 607% from the previous session’s volume of 1,252,234 shares.The stock last traded at $2.06 and had previously closed at $1.99.

Separately, ValuEngine cut Heat Biologics from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd.

Heat Biologics (NASDAQ:HTBX) last issued its earnings results on Tuesday, May 15th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by ($0.05). Heat Biologics had a negative return on equity of 182.19% and a negative net margin of 543.30%. The firm had revenue of $0.75 million during the quarter. research analysts expect that Heat Biologics will post -7.1 EPS for the current fiscal year.

A hedge fund recently raised its stake in Heat Biologics stock. Sabby Management LLC lifted its position in Heat Biologics (NASDAQ:HTBX) by 52.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,615,123 shares of the biopharmaceutical company’s stock after purchasing an additional 902,642 shares during the quarter. Sabby Management LLC owned about 62.26% of Heat Biologics worth $1,001,000 at the end of the most recent reporting period. Institutional investors own 3.27% of the company’s stock.

About Heat Biologics

Heat Biologics, Inc, a biopharmaceutical company, focuses on developing approaches to activate and co-stimulate a patient's immune system against cancer in the United States. The company's T-cell activating platform (TCAP) produces therapies designed to turn immunologically cold tumors hot and be administered in combination with checkpoint inhibitors and other immuno-modulators to enhance clinical effectiveness.

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