HTBX Stock Price: Heat Biologics Inc. rises despite analyst downgrade


  • NASDAQ:HTBX rises 2.69% after investor optimism from successful vaccine trials.
  • Analyst slashes estimated revenues by 12% for the year.

NASDAQ:HTBX has gained once again on Thursday, rising 2.69% to end the trading session at $2.29 per share. While this increase is up 3% from Wednesday’s closing levels, it is still down 6% from the opening on Thursday, as a wild after hours session on Wednesday saw the stock price jump by $0.20 per share. Investors remain optimistic on the North Carolina based company as pre-clinical trials for a COVID-19 vaccine were deemed to be successful in animals. Not only could this open the door for Heat Biologics to have a hand in creating a potential vaccine – but it may also allow the firm to receive more government funding, which will only help this company grow. 

HTBX Stock Forecast

On Thursday, several analysts announced that they would be downgrading Heat Biologics’ yearly revenue estimates by at least 12%. A new consensus estimate of $1.5 million for this year’s revenue would mean a substantial 53% decline in sales year over year. It is nearly a 20% downgrade from the previous estimate of $1.8 million from earlier this year as well. Where the analysts differed is on their price target for the stock. Their estimates ranged between $2.50 to $5.00 per share for the rest of 2020, meaning there could be a little optimism baked into the estimates. However, the overall 53% decline in revenue is a fairly damning outlook. It will be interesting to see how investors react to this downgrade, after enjoying a nearly 1100% rise off of the 52- week lows of $0.20 per share, so we may end up seeing some profit-taking in light of the revenue downgrade.

 

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