Propanc Biopharma (NASDAQ:PPCB) Shares Set to Reverse Split on Monday, October 26th

Propanc Biopharma Inc (NASDAQ:PPCB – Free Report)’s stock is set to reverse split before the market opens on Monday, October 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, October 25th.

Propanc Biopharma Stock Performance

PPCB stock traded down $0.05 during midday trading on Thursday, hitting $0.27. The company’s stock had a trading volume of 206,529 shares, compared to its average volume of 348,886. Propanc Biopharma has a 12 month low of $0.27 and a 12 month high of $38.25. The firm’s 50-day moving average is $0.78 and its 200-day moving average is $1.48.

Propanc Biopharma (NASDAQ:PPCB – Get Free Report) last announced its earnings results on Friday, September 25th. The company reported ($1.77) earnings per share for the quarter.

Propanc Biopharma announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 2nd that allows the company to buy back $500,000.00 in outstanding shares. This repurchase authorization allows the company to repurchase up to 15.2% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Propanc Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Check Out Our Latest Analysis on Propanc Biopharma

Propanc Biopharma Company Profile

(Get Free Report)

Propanc Biopharma, Inc is a clinical-stage biotechnology company focused on developing novel treatments for solid tumors. The company’s research centers on proenzyme-based cancer therapies designed to target the tumor microenvironment and address cancer recurrence and metastasis.

Propanc’s lead investigational product is PRP, a formulation of two digestive proenzymes, trypsinogen and chymotrypsinogen. The company is developing PRP for potential use against advanced and recurrent cancers, including pancreatic, ovarian and colorectal cancers.

Further Reading

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