Hemostemix (CVE:HEM) Trading Down 22.7% – Here’s Why

Hemostemix Inc. (CVE:HEM)’s share price dropped 22.7% during mid-day trading on Monday . The stock traded as low as C$0.08 and last traded at C$0.09. Approximately 1,987,867 shares traded hands during mid-day trading, an increase of 311% from the average daily volume of 483,314 shares. The stock had previously closed at C$0.11.

Hemostemix Trading Down 5.9%

The firm has a market capitalization of C$11.66 million, a PE ratio of -2.33 and a beta of 0.20. The firm has a 50 day simple moving average of C$0.10 and a 200 day simple moving average of C$0.14. The company has a current ratio of 0.04, a quick ratio of 0.48 and a debt-to-equity ratio of -55.07.

Insiders Place Their Bets

In other news, Director Peter Alan Lacey purchased 200,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of C$0.15 per share, with a total value of C$30,000.00. Insiders own 10.43% of the company’s stock.

Hemostemix Company Profile

Hemostemix Inc, a clinical stage biotechnology company, develops, manufactures, and commercializes blood-derived stem cell therapies for medical conditions in Canada. Its lead product is ACP-01, an autologous cell therapy, which is in Phase II clinical trial for the treatment of vascular diseases, such as cardiovascular disease, peripheral arterial disease, angina pectoris, and ischemia.