Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT – Get Free Report) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 27,089 shares, a decrease of 73.4% from the June 15th total of 101,771 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average daily volume of 63,484 shares, the days-to-cover ratio is presently 0.4 days.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in Purple Biotech stock. Virtu Financial LLC acquired a new stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.64% of the company’s stock.
Wall Street Analysts Forecast Growth
PPBT has been the subject of several analyst reports. Weiss Ratings upgraded shares of Purple Biotech from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, June 26th. Zacks Research raised shares of Purple Biotech from a “strong sell” rating to a “hold” rating in a research note 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 given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.00.
Purple Biotech Stock Performance
Shares of NASDAQ PPBT traded down $0.09 during midday trading on Friday, hitting $1.55. 9,484 shares of the stock traded hands, compared to its average volume of 63,151. The company has a market cap of $1.45 million, a PE ratio of -0.08 and a beta of 0.68. Purple Biotech has a one year low of $1.42 and a one year high of $29.00. The business has a 50 day moving average price of $2.63 and a two-hundred day moving average price of $4.35.
Purple Biotech (NASDAQ:PPBT – Get Free Report) last issued its earnings results on Saturday, May 16th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.29. As a group, equities research analysts forecast that Purple Biotech will post -5.31 EPS for the current fiscal 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.
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