Peregrine Pharmaceuticals Inc. (PPHM) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on April 21. At the lunch break, shares of PPHM have clocked gains of 3.53% to $0.6 after closing the day prior at $0.58. In the first two and a half hours of trading, the stock has gone as high as $0.6 and as low as $0.58. Today’s rise has come with about 717,041 shares changing hands, compared to an average 30-day volume of 2.59 million for Peregrine Pharmaceuticals Inc.. The price is currently below the 30-day volume weighted average price of $0.59 for PPHM.
The share appreciation gives the company a market capitalization of $172.97 million based upon 297.71 million shares outstanding. It also means that PPHM has a price-to-book ratio of 4.17:1.
In the past 52 weeks, shares of PPHM have traded as low as $0.282 and as high as $0.774. Technical traders will take note that at $0.6, shares of PPHM are trading above their 200-day MA at $0.41 and above their 50-day MA at $0.6. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is PPHM?
Peregrine Pharmaceuticals Inc is a biopharmaceutical company. It develops novel investigational products that help utilize the immune system to fight cancer, also known as immunotherapy. The company’s 284 employees are led by CEO Steven W. King from the corporate headquarters at 14282 Franklin Avenue in Tustin, CA.
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