PharmaCyte Biotech (NASDAQ:PMCB) Trading 8.3% Higher

PharmaCyte Biotech, Inc. (NASDAQ:PMCB) shares traded up 8.3% during mid-day trading on Wednesday . The company traded as high as $1.82 and last traded at $1.82. 9,226 shares changed hands 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 firm has a market capitalization of $15.38 million, a price-to-earnings ratio of -1.52 and a beta of -0.22. The business has a 50 day simple moving average of $1.86 and a 200-day simple moving average of $2.05.

Institutional Trading of PharmaCyte Biotech

A hedge fund recently raised its stake in PharmaCyte Biotech stock. K2 Principal Fund L.P. lifted 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 filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission. 34.24% of the stock is currently owned by 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.