Propanc Biopharma Inc (NASDAQ:PPCB) Stock Short Interest Report for September

Propanc Biopharma Inc (NASDAQ:PPCB) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totaling 71,162 shares, an increase of 145.4% from the September 15th total of 29,003 shares. Based on an average daily trading volume, of 333,944 shares, the days-to-cover ratio is presently 0.2 days. Currently, 4.4% of the shares of the company are short sold.

Propanc Biopharma Stock Down 11.3%

PPCB opened at $0.37 on Thursday. Propanc Biopharma has a twelve month low of $0.36 and a twelve month high of $47.50. The company’s 50-day moving average price is $0.89 and its two-hundred day moving average price is $1.58. The stock has a market cap of $2.32 million, a price-to-earnings ratio of -0.02 and a beta of 3.53.

Propanc Biopharma (NASDAQ:PPCB) last issued its quarterly earnings results on Friday, September 25th. The company reported ($1.77) earnings per share (EPS) for the quarter.

Propanc Biopharma announced that its board has initiated a share buyback program on Thursday, July 2nd that permits the company to repurchase $500.00 billion in shares. This repurchase authorization permits the company to purchase up to 15,243,902.4% of its shares through open market purchases. Share repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Propanc Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Propanc Biopharma Company Profile

Propanc Biopharma, Inc is a clinical-stage biotechnology company focused on developing novel treatments for solid tumors. The company’s research centers on proenzyme-based cancer therapies designed to target the tumor microenvironment and address cancer recurrence and metastasis.

Propanc’s lead investigational product is PRP, a formulation of two digestive proenzymes, trypsinogen and chymotrypsinogen. The company is developing PRP for potential use against advanced and recurrent cancers, including pancreatic, ovarian and colorectal cancers.