Kane Biotech (CVE:KNE) Reaches New 12-Month Low – Here’s Why

Kane Biotech Inc. (CVE:KNE) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$0.09 and last traded at C$0.09, with a volume of 57000 shares. The stock had previously closed at C$0.10.

Kane Biotech Trading Down 5.3 %

The business’s 50-day simple moving average is C$0.10 and its 200-day simple moving average is C$0.12. The company has a market cap of C$12.97 million, a price-to-earnings ratio of 2.25 and a beta of 0.52. The company has a debt-to-equity ratio of -331.42, a current ratio of 0.80 and a quick ratio of 0.39.

Insider Buying and Selling

In related news, Director Marc Edwards acquired 2,000,000 shares of the stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of C$0.10 per share, with a total value of C$200,000.00. 37.21% of the stock is currently owned by company insiders.

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.