PharmaCyte Biotech (NASDAQ:PMCB) Trading 8.3% Higher

PharmaCyte Biotech, Inc. (NASDAQ:PMCB) traded up 8.3% during mid-day trading on Wednesday . The stock traded as high as $1.82 and last traded at $1.82. 9,226 shares were traded during mid-day trading, a decline of 54% from the average session volume of 20,018 shares. The stock had previously closed at $1.68.

PharmaCyte Biotech Stock Performance

The company’s 50 day simple moving average is $1.85 and its 200-day simple moving average is $2.04. The firm has a market capitalization of $16.06 million, a PE ratio of -1.58 and a beta of -0.22.

Institutional Investors Weigh In On PharmaCyte Biotech

An institutional investor recently raised its position in PharmaCyte Biotech stock. K2 Principal Fund L.P. grew its holdings in shares of PharmaCyte Biotech, Inc. (NASDAQ:PMCB) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 304,613 shares of the company’s stock after acquiring an additional 46,132 shares during the quarter. K2 Principal Fund L.P. owned about 3.53% of PharmaCyte Biotech worth $655,000 at the end of the most recent quarter. Institutional investors own 34.24% of the company’s stock.

PharmaCyte Biotech Company Profile

PharmaCyte Biotech, Inc, a biotechnology company, focuses on developing and commercializing cellular therapies for cancer, diabetes, and malignant ascites in the United States. Its cellular therapies are developed based on Cell-in-a-Box, a proprietary cellulose-based live cell encapsulation technology used as a platform to treat various types of cancer, including advanced and inoperable pancreatic cancer, as well as diabetes.