Short Interest in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Increases By 29.9%

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a significant increase in short interest in January. As of January 30th, there was short interest totaling 125,042 shares, an increase of 29.9% from the January 15th total of 96,234 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 115,523 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 115,523 shares, the days-to-cover ratio is currently 1.1 days. Currently, 1.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PPBT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Purple Biotech in a report on Monday, December 29th. Wall Street Zen downgraded shares of Purple Biotech to a “strong sell” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Purple Biotech Price Performance

Shares of NASDAQ PPBT traded up $0.01 during mid-day trading on Tuesday, reaching $0.59. 89,590 shares of the company’s stock traded hands, compared to its average volume of 101,834. Purple Biotech has a 1-year low of $0.53 and a 1-year high of $3.48. The stock has a market cap of $7.52 million, a P/E ratio of -1.83 and a beta of 0.66. The business has a 50-day simple moving average of $0.66 and a 200 day simple moving average of $0.92.

Shares of Purple Biotech are set to reverse split before the market opens on Monday, March 2nd. The 1-10 reverse split was announced on Wednesday, February 11th. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, March 1st.

Hedge Funds Weigh In On Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. Virtu Financial LLC purchased a new stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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. Hedge funds and other institutional investors 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.