Shares of Propanc Biopharma Inc (NASDAQ:PPCB – Free Report) are set to reverse split before the market opens on Monday, October 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, October 25th.
Propanc Biopharma Trading Down 14.4%
PPCB stock traded down $0.05 during midday trading on Thursday, reaching $0.27. The company had a trading volume of 206,529 shares, compared to its average volume of 1,823,659. The company has a 50 day moving average of $0.78 and a two-hundred day moving average of $1.48. Propanc Biopharma has a 1 year low of $0.27 and a 1 year high of $38.25. The company has a market capitalization of $1.71 million, a P/E ratio of -0.01 and a beta of 3.53.
Propanc Biopharma (NASDAQ:PPCB – Get Free Report) last announced its quarterly earnings results on Friday, September 25th. The company reported ($1.77) EPS for the quarter.
Propanc Biopharma announced that its board has initiated a stock repurchase plan on Thursday, July 2nd that allows the company to repurchase $500,000.00 in outstanding shares. This repurchase authorization allows the company to reacquire up to 15.2% of its stock through open market purchases. Share repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Analyst Ratings Changes
Separately, Weiss Ratings lowered 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. According to data from MarketBeat.com, the company currently has an average rating of “Sell”.
Read Our Latest Stock Analysis on Propanc Biopharma
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.
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