Purple Biotech (NASDAQ:PPBT – Get Free Report) posted its quarterly earnings data on Friday. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.29, Zacks reports.
Purple Biotech Stock Up 6.8%
Shares of PPBT traded up $0.25 during trading hours on Friday, reaching $3.94. The company’s stock had a trading volume of 14,213 shares, compared to its average volume of 11,594. The firm has a market cap of $5.04 million, a price-to-earnings ratio of -0.19 and a beta of 0.68. Purple Biotech has a 1-year low of $3.49 and a 1-year high of $29.00. The company has a 50 day moving average of $4.19 and a two-hundred day moving average of $5.95.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Weiss Ratings lowered shares of Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a research note on Monday, May 4th. HC Wainwright dropped their target price on Purple Biotech from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, Zacks Research upgraded Purple Biotech from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.00.
Hedge Funds Weigh In On Purple Biotech
A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC acquired a new position in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 Securities and Exchange Commission (SEC). 9.64% of the stock is currently owned by institutional investors and hedge funds.
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.
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