IGC Pharma (NYSEMKT:IGC) Trading 26% Higher – Should You Buy?

IGC Pharma, Inc. (NYSEMKT:IGC) shares traded up 26% during mid-day trading on Wednesday . The company traded as high as $0.34 and last traded at $0.41. 214,616 shares were traded during trading, a decline of 77% from the average session volume of 913,992 shares. The stock had previously closed at $0.33.

IGC Pharma Trading Up 26.0%

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.15 and a quick ratio of 0.98. The firm has a market capitalization of $37.80 million, a PE ratio of -3.74 and a beta of 1.08. The business’s 50-day moving average price is $0.39 and its 200-day moving average price is $0.34.

Hedge Funds Weigh In On IGC Pharma

A hedge fund recently bought a new stake in IGC Pharma stock. Squarepoint Ops LLC purchased a new position in shares of IGC Pharma, Inc. (NYSEMKT:IGC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 125,966 shares of the company’s stock, valued at approximately $42,000. Squarepoint Ops LLC owned 0.16% of IGC Pharma at the end of the most recent reporting period. 3.87% of the stock is currently owned by hedge funds and other institutional investors.

About IGC Pharma

IGC Pharma, Inc, a clinical stage pharmaceutical company, engages in developing treatments for Alzheimer’s disease. The company’s lead product is IGC-AD1, which is in a Phase 2B clinical trial as a treatment for agitation in dementia due to Alzheimer’s; and TGR-63, IGC-1C, IGC-M3, and LMP in pre-clinical development.