PDS Biotechnology (NASDAQ:PDSB) Stock Price Down 5.9% – Here’s What Happened

Shares of PDS Biotechnology Corporation (NASDAQ:PDSB) traded down 5.9% on Wednesday . The company traded as low as $0.7102 and last traded at $0.7155. 108,284 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 330,208 shares. The stock had previously closed at $0.76.

Analyst Upgrades and Downgrades

PDSB has been the topic of several recent research reports. Wall Street Zen upgraded shares of PDS Biotechnology from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings restated a “sell (e+)” rating on shares of PDS Biotechnology in a report on Friday, July 17th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of PDS Biotechnology in a research report on Wednesday, April 15th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PDS Biotechnology presently has a consensus rating of “Hold” and an average target price of $9.00.

PDS Biotechnology Stock Down 3.1%

The company has a debt-to-equity ratio of 2.73, a current ratio of 2.26 and a quick ratio of 2.26. The firm has a 50-day simple moving average of $0.95 and a two-hundred day simple moving average of $0.89. The company has a market cap of $37.97 million, a PE ratio of -1.01 and a beta of 1.59.

PDS Biotechnology (NASDAQ:PDSB) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Research analysts anticipate that PDS Biotechnology Corporation will post -0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC acquired a new stake in shares of PDS Biotechnology during the 4th quarter worth about $2,182,000. Geode Capital Management LLC raised its position in shares of PDS Biotechnology by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 520,398 shares of the company’s stock valued at $401,000 after buying an additional 38,399 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of PDS Biotechnology by 116.1% during the third quarter. Squarepoint Ops LLC now owns 291,627 shares of the company’s stock valued at $295,000 after buying an additional 156,662 shares during the period. Renaissance Technologies LLC lifted its stake in shares of PDS Biotechnology by 25.0% during the first quarter. Renaissance Technologies LLC now owns 220,800 shares of the company’s stock valued at $134,000 after buying an additional 44,100 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in PDS Biotechnology by 117.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 196,797 shares of the company’s stock worth $151,000 after acquiring an additional 106,300 shares during the last quarter. 26.84% of the stock is currently owned by hedge funds and other institutional investors.

About PDS Biotechnology

PDS Biotechnology Group, Inc is a clinical?stage immunotherapy company focused on the development of targeted treatments for oncology and infectious diseases. The company’s proprietary Amplivant™ adjuvant platform leverages Toll-like receptor 3 activation to prime antigen?presenting cells, directing robust immune responses against defined tumor and viral antigens. Its lead therapeutic vaccine candidate, PDS?0101, is designed to treat HPV16?positive cancers and is being evaluated both as a monotherapy and in combination with checkpoint inhibitors in ongoing Phase 1/2 clinical trials.

Beyond its HPV?focused program, PDS Biotechnology is advancing a diversified pipeline of immunotherapies incorporating its Amplivant platform.