IGC Pharma (NYSEAMERICAN:IGC) Now Covered by StockNews.com

StockNews.com started coverage on shares of IGC Pharma (NYSEAMERICAN:IGC) in a report issued on Thursday morning. The firm issued a sell rating on the construction company’s stock.

IGC Pharma Price Performance

IGC Pharma stock opened at $0.48 on Thursday. IGC Pharma has a twelve month low of $0.25 and a twelve month high of $0.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.85 and a quick ratio of 0.86.

IGC Pharma (NYSEAMERICAN:IGC) last posted its earnings results on Wednesday, February 14th. The construction company reported ($0.09) earnings per share for the quarter. IGC Pharma had a negative return on equity of 110.37% and a negative net margin of 1,163.24%. The business had revenue of $0.20 million during the quarter.

Institutional Trading of IGC Pharma

A number of large investors have recently made changes to their positions in the business. Vident Investment Advisory LLC grew its holdings in IGC Pharma by 66.3% during the 1st quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company’s stock valued at $99,000 after purchasing an additional 41,457 shares during the last quarter. Renaissance Technologies LLC bought a new position in IGC Pharma during the 2nd quarter valued at about $115,000. Jane Street Group LLC grew its holdings in IGC Pharma by 302.6% during the 2nd quarter. Jane Street Group LLC now owns 48,281 shares of the construction company’s stock valued at $26,000 after purchasing an additional 36,290 shares during the last quarter. Millennium Management LLC grew its stake in IGC Pharma by 76.2% in the 4th quarter. Millennium Management LLC now owns 144,724 shares of the construction company’s stock worth $46,000 after acquiring an additional 62,599 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in IGC Pharma by 211.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 165,490 shares of the construction company’s stock worth $59,000 after acquiring an additional 112,334 shares in the last quarter. 3.87% of the stock is currently owned by institutional investors.

About IGC Pharma

IGC Pharma, Inc, a clinical stage biotechnology company, engages in developing cannabinoid-based formulations for treating diseases and conditions, including Alzheimer's disease, dysmenorrhea, premenstrual syndrome, and chronic pain. The company has two investigational drug assets targeting Alzheimer's disease comprising IGC-AD1, which is in a Phase 2B clinical trial as a treatment for agitation in dementia due to Alzheimer's; and TGR-63 that is in pre-clinical development.