Nuvilex Inc. (NASDAQ:PMCB) Shares Shorted: Short Interest Down 47.6% in October

Nuvilex Inc. (NASDAQ:PMCB) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 70,104 shares, a drop of 47.6% from the September 30th total of 133,885 shares. Based on an average daily volume of 99,423 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Nuvilex from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Nuvilex currently has an average rating of “Sell”.

Nuvilex Trading Down 9.0%

Nuvilex stock traded down $0.03 during midday trading on Friday, hitting $0.30. The stock had a trading volume of 121,688 shares, compared to its average volume of 69,269. The firm’s fifty day moving average is $0.42 and its two-hundred day moving average is $0.65. The company has a market capitalization of $3.24 million, a PE ratio of -0.13 and a beta of 0.68. Nuvilex has a 52-week low of $0.30 and a 52-week high of $1.51.

Nuvilex (NASDAQ:PMCB) last posted its earnings results on Monday, September 14th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.48).

Nuvilex Company Profile

Nuvilex, Inc was a biotechnology company that later changed its name to PharmaCyte Biotech, Inc and continued to trade under the ticker symbol PMCB. The company focused on developing cellular therapies intended to treat serious diseases, particularly cancer and diabetes.

Its primary technology involved encapsulating genetically engineered human cells in proprietary cellulose-based capsules. These cells were designed to produce therapeutic substances inside the body while limiting exposure to healthy tissue.