Sernova (TSE:SVA) Stock Jumps 27.8% – Here’s Why

Sernova Corp. (TSE:SVA) rose 27.8% during trading on Wednesday. The company traded as high as C$0.12 and last traded at C$0.12. 560,229 shares were traded during mid-day trading, an increase of 276% from the average daily volume of 149,033 shares. The stock had previously closed at C$0.09.

Sernova Stock Performance

The firm has a 50-day simple moving average of C$0.11 and a two-hundred day simple moving average of C$0.14. The company has a current ratio of 0.03, a quick ratio of 18.11 and a debt-to-equity ratio of -21.98. The company has a market capitalization of C$41.54 million, a price-to-earnings ratio of -1.57 and a beta of -0.43.

Sernova (TSE:SVA) last issued its quarterly earnings data on Thursday, September 10th. The company reported C($0.01) earnings per share for the quarter. As a group, sell-side analysts forecast that Sernova Corp. will post -0.08 earnings per share for the current fiscal year.

Sernova Company Profile

Sernova Biotherapeutics is a clinical-stage company developing regenerative medicine therapeutics combining its Cell Pouch with human donor cells or stem-cell derived islet-like clusters in collaboration with Evotec to create bio-hybrid organs to treat T1D. A bio-hybrid organ is comprised of non-biomaterials, such as the Cell Pouch, integrated with living tissues to restore or enhance the function of a compromised organ. This innovative approach aims to deliver a potentially revolutionary treatment for patients with chronic diseases, initially focusing on T1D and thyroid disorders.