PharmaCyte Biotech (NASDAQ:PMCB) Shares Up 2.4%

PharmaCyte Biotech, Inc. (NASDAQ:PMCB) shares shot up 2.4% during mid-day trading on Wednesday . The stock traded as high as $2.20 and last traded at $2.16. 6,203 shares were traded during trading, a decline of 72% from the average session volume of 22,402 shares. The stock had previously closed at $2.11.

PharmaCyte Biotech Stock Up 2.4 %

The firm has a market cap of $18.25 million, a P/E ratio of -1.80 and a beta of -0.13. The firm’s 50-day moving average price is $2.20 and its 200 day moving average price is $2.19.

PharmaCyte Biotech (NASDAQ:PMCB) last released its quarterly earnings results on Monday, March 18th. The company reported ($0.65) earnings per share for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in PharmaCyte Biotech stock. K2 Principal Fund L.P. lifted its stake in shares of PharmaCyte Biotech, Inc. (NASDAQ:PMCB) by 17.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 304,613 shares of the company’s stock after purchasing 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 reporting period. 34.24% of the stock is owned by hedge funds and other institutional investors.

About PharmaCyte Biotech

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.