Propanc Biopharma Inc (NASDAQ:PPCB) Short Interest Down 94.9% in May

Propanc Biopharma Inc (NASDAQ:PPCB) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 31,201 shares, a drop 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. Currently, 1.9% of the company’s shares are sold short.

Institutional Trading of Propanc Biopharma

An institutional investor recently bought a new position in Propanc Biopharma stock. Virtu Financial LLC acquired a new position in shares of Propanc Biopharma Inc (NASDAQ:PPCB) during the 3rd quarter, according to the company in its most recent disclosure 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 0.33% of Propanc Biopharma at the end of the most recent quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Propanc Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Propanc Biopharma has an average rating of “Sell”.

Propanc Biopharma Trading Up 0.7%

Shares of NASDAQ:PPCB traded up $0.01 during midday trading on Tuesday, hitting $1.38. The company had a trading volume of 34,431 shares, compared to its average volume of 64,720. Propanc Biopharma has a 12 month low of $1.31 and a 12 month high of $270.25. The stock has a market cap of $3.15 million, a price-to-earnings ratio of -0.06 and a beta of 3.48. The firm has a fifty day simple moving average of $2.30 and a 200 day simple moving average of $7.50.

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.