HCWB is trading at $0.85 (23.9% down) after HCW Biologics announced a 1-for-6 reverse stock split of its common stock, effective June 30, 2026.
- The reverse split is intended to ensure ongoing compliance with Nasdaq's minimum bid price rule, despite the company recently completing 28 consecutive trading days above $1.00 per share.
- The announcement of a reverse stock split, a significant company-specific event, appears to be the primary driver of today's sharp pullback.