Propanc Biopharma Inc (NASDAQ:PPCB) Sees Significant Drop in Short Interest

Propanc Biopharma Inc (NASDAQ:PPCB) was the target of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 31,201 shares, a decline of 94.9% from the May 14th total of 617,010 shares. Based on an average daily volume of 90,333 shares, the short-interest ratio is currently 0.3 days. Approximately 1.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Propanc Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Propanc Biopharma presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Propanc Biopharma

An institutional investor recently bought a new position in Propanc Biopharma stock. Virtu Financial LLC acquired a new position in Propanc Biopharma Inc (NASDAQ:PPCB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 41,677 shares of the company’s stock, valued at approximately $71,000. Virtu Financial LLC owned about 0.33% of Propanc Biopharma as of its most recent filing with the Securities and Exchange Commission.

Propanc Biopharma Stock Down 4.0%

PPCB traded down $0.06 during trading hours on Wednesday, hitting $1.33. The stock had a trading volume of 8,394 shares, compared to its average volume of 108,836. The company’s fifty day simple moving average is $2.30 and its 200 day simple moving average is $7.50. Propanc Biopharma has a 1 year low of $1.31 and a 1 year high of $270.25. The stock has a market cap of $3.02 million, a PE ratio of -0.05 and a beta of 3.48.

Propanc Biopharma Company Profile

Propanc Biopharma Ltd is a clinical-stage biotechnology company focused on developing novel biologic drug candidates for the treatment of invasive and metastatic cancers. The company’s core technology centers on proprietary formulations of recombinant human proteolytic enzymes designed to degrade the dense extracellular matrix that surrounds solid tumors. By reducing stromal barriers, these candidates are intended to enhance the delivery and efficacy of co-administered chemotherapies, immunotherapies or other targeted agents.

The company’s lead program, known as PRP, comprises a combination of modified pancreatic proteases that have demonstrated promising preclinical activity in degrading tumor stroma and inhibiting tumor growth.