Purple Biotech (NASDAQ:PPBT – Get Free Report) released its quarterly earnings data on Friday. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $2.05, Zacks reports.
Purple Biotech Trading Up 1.4%
Shares of PPBT traded up $0.02 during mid-day trading on Friday, hitting $1.43. 49,242 shares of the company traded hands, compared to its average volume of 25,327. Purple Biotech has a one year low of $1.16 and a one year high of $24.00. The business has a 50-day moving average of $1.79 and a 200 day moving average of $3.62. The stock has a market capitalization of $1.33 million, a price-to-earnings ratio of -0.08 and a beta of 0.67.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Weiss Ratings raised Purple Biotech from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday. Zacks Research upgraded shares of Purple Biotech from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.00.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC acquired a new stake in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT – Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned about 0.38% of Purple Biotech as of its most recent filing with the SEC. Institutional investors and hedge funds own 9.64% of the company’s stock.
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.
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