Kane Biotech (CVE:KNE) Shares Up 6.7%

Kane Biotech Inc. (CVE:KNE)’s share price shot up 6.7% during mid-day trading on Tuesday . The company traded as high as C$0.17 and last traded at C$0.16. 204,000 shares were traded during mid-day trading, an increase of 65% from the average session volume of 123,505 shares. The stock had previously closed at C$0.15.

Kane Biotech Stock Performance

The firm has a market cap of C$18.55 million, a P/E ratio of -4.67 and a beta of 0.55. The company has a current ratio of 0.31, a quick ratio of 0.39 and a debt-to-equity ratio of 1,164.24. The business’s fifty day simple moving average is C$0.14 and its 200-day simple moving average is C$0.11.

Kane Biotech (CVE:KNE) last announced its earnings results on Thursday, May 23rd. The company reported C($0.01) earnings per share for the quarter. The firm had revenue of C$0.05 million for the quarter.

Insider Activity

In related news, Director Philip Renaud sold 2,000,000 shares of Kane Biotech stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of C$0.13, for a total transaction of C$260,000.00. In other news, Director Marc Edwards bought 345,000 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was acquired at an average cost of C$0.14 per share, with a total value of C$48,300.00. Also, Director Philip Renaud sold 2,000,000 shares of Kane Biotech stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of C$0.13, for a total transaction of C$260,000.00. Insiders own 34.93% of the company’s stock.

Kane Biotech Company Profile

Kane Biotech Inc, a biotechnology company, engages in the research, development, and commercialization of technologies and products that prevent and remove microbial biofilms in Canada and internationally. The company develops its products using coactiv+ technology, an antimicrobial wound gel platform; and DispersinB technology, a naturally occurring enzyme that cleaves the bacterial surface polysaccharide poly-b-1, 6-N-acetylglucosamine for treating wounds and otic infections.