Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) are coming off their best week in nearly six months as confidence has returned to the stock.
The company is coming off of several importance events including the release of preclinical data at the SITC Annual Meeting to highlight Bavatuximab’s enhanced anti-tumor activity. Shareholders also have hopes that the results of several clinical studies will reveal positive data in the months ahead.
The company has absoliutely no debt on their balance sheet which includes around $59 million in cash and has been increasing their cash flow thanks to an expanding Avid Bioservices unit. The stock increased 3.97% or $0.05 on November 27, hitting $1.31. About 1.03M shares traded hands. PPHM has declined 2.96% since April 27, 2015 and is downtrending. It has underperformed by 1.60% the S&P500.
The institutional sentiment increased to 2.29 in Q2 2015. Its up 0.34, from 1.95 in 2015Q1. The ratio increased, as 7 funds sold all Peregrine Pharmaceuticals shares owned while 14 reduced positions. 17 funds bought stakes while 31 increased positions. They now own 34.85 million shares or 17.76% more from 29.60 million shares in 2015Q1.
Two Sigma Securities Llc holds 0.15% of its portfolio in Peregrine Pharmaceuticals for 67,228 shares. Baxter Bros Inc owns 135,506 shares or 0.07% of their US portfolio. Moreover, Eqis Capital Management Inc. has 0.07% invested in the company for 534,390 shares. The New Jersey-based Sabby Management Llc has invested 0.06% in the stock. Smith Asset Management Group Lp, a Texas-based fund reported 870,750 shares.
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical firm with a portfolio of monoclonal antibodies in clinical trials for the treatment and diagnosis of cancer. The company has a market cap of $254.68 million. The Firm has two platforms and is pursuing multiple clinical programs in cancer with its lead immunotherapy candidate bavituximab, its phosphatidylserine targeting agent, PGN65, and its brain cancer therapy Cotara. It currently has negative earnings. Bavituximab is the Company’s therapeutic PS-targeting antibody.