Traders are more bullish on Peregrine Pharmaceuticals Inc. recently as implied by the decrease in short interest. The stock saw a fall in short interest of -16.32% between August 15, 2017 and August 31, 2017. Short shares decreased from 611,297 to 511,541 over that period. Days to cover increased from 2.0 to 3.0 and the percentage of shorted shares was 0.01% on August 31.
These funds have shifted positions in (PPHM). As of quarter end Tappan Street Partners LLC had bought 5,193,530 shares growing its stake by 81.1%. The value of the investment in (PPHM) went from $4,186,000 to $7,049,000 increasing 68.4% since the last quarter. As of the end of the quarter Squarepoint Ops LLC had acquired a total of 103,700 shares growing its position 244.6%. The value of the investment in PPHM increased from $28,000 to $89,000 a change of $61,000 for the reporting period.
Ubs Group Ag cut its holdings by selling 1,965 shares a decrease of 88.8%. Ubs Group Ag owns 247 shares worth $0. The total value of its holdings decreased 100.0%. As of the end of the quarter Eqis Capital Management, Inc. had acquired a total of 10,398 shares growing its holdings by 1.0%. The value of the investment in Peregrine Pharmaceuticals Inc. went from $678,000 to $642,000 a change of 5.3% quarter over quarter.
The company is trading up by 0.65% percent from yesterday’s close. Company shares last traded at $3.11 a tad below $3.36, the 50 day moving average and much lower than the 200 day moving average of $4.10. The 50 day moving average went down $-0.25 or -7.31% and the 200 day average moved down $-0.99.
In the last earnings report the EPS was $-0.58 and is expected to be $-0.40 for the current year with 44,773,000 shares now outstanding. Next quarter’s EPS is expected be $-0.12 and the next full year EPS is anticipated to be $-0.46.
Peregrine Pharmaceuticals, Inc. (Peregrine), launched on September 25, 1996, is a biopharmaceutical company. The Company operates through two segments: Peregrine, which is involved in the research and development of monoclonal antibodies for the treatment of cancer, and Avid, which is involved in providing contract manufacturing services for third party customers on a fee-for-service basis while also supporting its internal drug development efforts. The Company delivers pharmaceutical products through its contract manufacturing business and through licensing its development-stage immunotherapy products. The Business’s subsidiary is Avid Bioservices, Inc. (Avid)..