Kane Biotech (CVE:KNE) Sets New 52-Week Low – Here’s Why

Shares of Kane Biotech Inc. (CVE:KNE) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$0.09 and last traded at C$0.09, with a volume of 11500 shares trading hands. The stock had previously closed at C$0.10.

Kane Biotech Trading Up 11.1 %

The company has a debt-to-equity ratio of -331.42, a quick ratio of 0.39 and a current ratio of 0.80. The business has a fifty day simple moving average of C$0.10 and a 200 day simple moving average of C$0.11. The stock has a market cap of C$14.41 million, a price-to-earnings ratio of 2.50 and a beta of 0.52.

Insider Activity

In other news, Director Marc Edwards purchased 2,000,000 shares of the stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of C$0.10 per share, for a total transaction of C$200,000.00. Company insiders own 37.21% of the company’s stock.

About Kane Biotech

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.