Peregrine Pharmaceuticals Inc. (NASDAQ:PPHMP) Stock Closed 7.2% Above Its 50 Day Moving Average


It is trading at $23.89 marginally over the 50 day moving average which is $22.29 and just a bit higher than the 200 day moving average of $22.08. The 50 day moving average was up by +7.17% whereas the 200 day average was up by +8.19%. 1,440 shares changed hands on Tuesday. Volume was down 68.79% under the stocks average daily volume.

Investors are a little more bearish on shares of the company recently if you consider the rise in short interest. The stock had a rise in short interest of 330.92% as of September 29, 2017 from the last reporting period. Short interest grew from 841 to 3,624 over that period. With short interest at 3,624 and short average daily volume at 8,388, the short-interest ratio is 0.0 and the percentage of shorted shares was 0.00% on September 29.

In the market the company is trading up since yesterday’s close of 23.81. The company recently declared a dividend for shareholders that was paid on Monday the 2nd of October 2017. The dividend payment was $0.655 per share for the quarter or $2.62 on an annualized basis. This dividend amount was represent a yield of $11.26. The ex-dividend date was set for Friday the 15th of September 2017.

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)..