PPCB (NASDAQ:PPCB) Sees Large Increase in Short Interest

PPCB (NASDAQ:PPCB) was the target of a large growth in short interest in April. As of April 30th, there was short interest totaling 523,788 shares, a growth of 159.7% from the April 15th total of 201,708 shares. Currently, 4.6% of the shares of the stock are short sold. Based on an average trading volume of 2,428,344 shares, the short-interest ratio is currently 0.2 days.

PPCB Trading Down 7.0%

Shares of PPCB stock traded down $0.01 during trading hours on Friday, hitting $0.07. 3,369,301 shares of the company’s stock traded hands, compared to its average volume of 1,433,077. The firm has a 50 day moving average price of $0.11. The stock has a market cap of $1.08 million, a PE ratio of -0.01 and a beta of 3.59. PPCB has a 12 month low of $0.06 and a 12 month high of $10.81.

Shares of PPCB are scheduled to reverse split on Monday, May 18th. The 1-25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, May 17th.

PPCB (NASDAQ:PPCB) last announced its earnings results on Thursday, May 14th. The company reported ($0.28) earnings per share for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of PPCB 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, the company currently has an average rating of “Sell”.

About PPCB

Propanc Biopharma, Inc is a healthcare company. It focuses on the development of cancer treatments for pancreatic, ovarian and colorectal cancer primarily in Australia. The Company’s products include PRP and PRP-DCM. Propanc Biopharma, Inc, formerly known as Propanc Health Group Corporation, is based in Camberwell, Australia.