Short Interest in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Declines By 39.7%

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 96,234 shares, a decrease of 39.7% from the December 31st total of 159,633 shares. Based on an average daily trading volume, of 80,055 shares, the short-interest ratio is presently 1.2 days. Currently, 0.8% of the shares of the company are sold short. Currently, 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 80,055 shares, the short-interest ratio is presently 1.2 days.

Hedge Funds Weigh In On Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. Virtu Financial LLC acquired a new position in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned 0.38% of Purple Biotech as of its most recent filing with the Securities & Exchange Commission. 9.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wall Street Zen lowered Purple Biotech to a “strong sell” rating in a report on Friday, November 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Purple Biotech in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Purple Biotech Stock Performance

NASDAQ:PPBT opened at $0.62 on Friday. Purple Biotech has a one year low of $0.53 and a one year high of $3.48. The stock has a market cap of $7.97 million, a PE ratio of -1.94 and a beta of 0.64. The stock has a 50 day moving average price of $0.72 and a 200 day moving average price of $1.10.

About Purple Biotech

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.