Kane Biotech (CVE:KNE) Hits New 1-Year Low – Here’s Why

Kane Biotech Inc. (CVE:KNE) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$0.09 and last traded at C$0.09, with a volume of 11000 shares trading hands. The stock had previously closed at C$0.10.

Kane Biotech Price Performance

The company has a quick ratio of 0.39, a current ratio of 0.80 and a debt-to-equity ratio of -331.42. The firm’s 50-day moving average is C$0.10 and its 200-day moving average is C$0.11. The company has a market cap of C$12.97 million, a PE ratio of 2.25 and a beta of 0.52.

Insiders Place Their Bets

In other Kane Biotech news, Director Marc Edwards purchased 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was bought 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.