PDS Biotechnology (NASDAQ:PDSB) Shares Down 5.8% – Here’s Why

PDS Biotechnology Co. (NASDAQ:PDSB) dropped 5.8% on Friday . The stock traded as low as $1.42 and last traded at $1.46. Approximately 261,041 shares traded hands during trading, an increase of 18% from the average daily volume of 221,346 shares. The stock had previously closed at $1.55.

Wall Street Analysts Forecast Growth

PDSB has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of PDS Biotechnology in a research report on Wednesday, December 18th. StockNews.com cut PDS Biotechnology from a “hold” rating to a “sell” rating in a report on Saturday, November 9th. Finally, B. Riley dropped their price objective on shares of PDS Biotechnology from $9.00 to $7.00 and set a “buy” rating for the company in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

PDS Biotechnology Stock Performance

The firm has a market capitalization of $54.62 million, a P/E ratio of -1.26 and a beta of 1.88. The company has a 50-day moving average of $1.72 and a 200-day moving average of $2.65. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PDSB. Raymond James Financial Inc. bought a new stake in shares of PDS Biotechnology in the 4th quarter valued at $26,000. Vontobel Holding Ltd. lifted its holdings in PDS Biotechnology by 233.3% in the third quarter. Vontobel Holding Ltd. now owns 40,000 shares of the company’s stock valued at $153,000 after buying an additional 28,000 shares during the period. Geode Capital Management LLC boosted its position in PDS Biotechnology by 9.8% during the third quarter. Geode Capital Management LLC now owns 415,113 shares of the company’s stock valued at $1,586,000 after acquiring an additional 37,142 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in PDS Biotechnology during the 2nd quarter worth about $120,000. Finally, XTX Topco Ltd raised its position in shares of PDS Biotechnology by 241.8% in the 3rd quarter. XTX Topco Ltd now owns 67,182 shares of the company’s stock worth $257,000 after acquiring an additional 47,528 shares in the last quarter. Institutional investors own 26.84% of the company’s stock.

About PDS Biotechnology

PDS Biotechnology Corporation, a clinical-stage biopharmaceutical company, developing a pipeline of targeted cancer immunotherapies in the United States. The company's lead product candidate is PDS0101 (HPV16), which is in Phase II clinical trial provides a first line treatment for the recurrent/metastatic head and neck cancer, and human papillomavirus associated malignancies.