Short Interest in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Grows By 84.9%

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 175,100 shares, an increase of 84.9% from the August 31st total of 94,700 shares. Based on an average daily trading volume, of 1,000,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 5.8% of the company’s shares are short sold. Currently, 5.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,000,000 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Purple Biotech in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Purple Biotech has a consensus rating of “Hold” and a consensus price target of $33.00.

Purple Biotech Trading Up 4.0%

Purple Biotech stock opened at $0.59 on Friday. The firm has a 50 day moving average of $1.47 and a 200 day moving average of $2.15. The firm has a market capitalization of $7.63 million, a price-to-earnings ratio of -1.41 and a beta of 0.61. Purple Biotech has a 12-month low of $0.53 and a 12-month high of $13.95.

Purple Biotech (NASDAQ:PPBT) last released its earnings results on Wednesday, August 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.19). On average, analysts predict that Purple Biotech will post -0.83 EPS for the current year.

Purple Biotech Company Profile

Purple Biotech Ltd., a clinical-stage company, focuses on developing therapies to overcome tumor immune evasion and drug resistance for cancer patients in the United States. Its oncology pipeline includes CM24, a humanized monoclonal antibody that blocks the interactions of carcinoembryonic antigen related cell adhesion molecule 1 as a combination therapy with anti-PD-1 checkpoint inhibitors, which is in Phase 2 clinical trial for the treatment of pancreatic ductal adenocarcinoma; NT219, a small molecule that targets and inhibits insulin receptor substrate 1 and 2, and signal transducer and activator of transcription, which is in Phase 1/2 clinical trials for the treatment recurrent and/or metastatic squamous cell carcinoma of the head and neck cancer or colorectal adenocarcinoma; and IM1240, a multi-valent antibody designed to activate anti-tumoral immune response against 5T4-positive tumors, which is in preclinical stage.