Nuvilex Inc. (NASDAQ:PMCB) Sees Large Growth in Short Interest

Nuvilex Inc. (NASDAQ:PMCB) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 133,885 shares, an increase of 90.1% from the September 15th total of 70,436 shares. Based on an average daily volume of 533,557 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.4% of the company’s stock are short sold.

Nuvilex Trading Down 4.8%

PMCB stock opened at $0.34 on Friday. The stock has a 50-day moving average price of $0.46 and a two-hundred day moving average price of $0.63. Nuvilex has a 1 year low of $0.33 and a 1 year high of $1.51.

Nuvilex (NASDAQ:PMCB) last released its quarterly earnings results on Monday, September 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.48).

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Nuvilex from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Nuvilex has a consensus rating of “Sell”.

About Nuvilex

Nuvilex, Inc was a biotechnology company that developed therapies for cancer and other serious diseases. The company focused on combining cellular therapy with drug-delivery technologies intended to provide localized treatment while limiting exposure to healthy tissue.

Its principal program involved the Cell-in-a-Box technology, which uses encapsulated genetically engineered cells to convert certain chemotherapy prodrugs into active cancer-fighting compounds at or near a tumor. Nuvilex applied this approach primarily to pancreatic cancer, including a planned treatment regimen involving encapsulated cells and ifosfamide.

Nuvilex later changed its name to PharmaCyte Biotech, Inc and continued development of the Cell-in-a-Box platform under the PharmaCyte Biotech name.