Propanc Biopharma Inc (NASDAQ:PPCB) Stock Short Interest Climbs 145.4%

Propanc Biopharma Inc (NASDAQ:PPCB) saw a large increase in short interest in the month of 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 trading volume of 333,944 shares, the short-interest ratio is currently 0.2 days. Approximately 4.4% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Propanc Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Propanc Biopharma Stock Performance

NASDAQ PPCB traded down $0.05 during trading hours on Wednesday, reaching $0.37. The company’s stock had a trading volume of 825,495 shares, compared to its average volume of 1,864,843. The company’s 50-day moving average is $0.91 and its two-hundred day moving average is $1.60. Propanc Biopharma has a fifty-two week low of $0.36 and a fifty-two week high of $47.50. The stock has a market cap of $2.31 million, a PE ratio of -0.02 and a beta of 3.53.

Propanc Biopharma (NASDAQ:PPCB) last announced its 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 stock repurchase program on Thursday, July 2nd that allows the company to repurchase $500.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 15,243,902.4% of its shares through open market purchases. Share repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

About Propanc Biopharma

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.