Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Short Interest Up 107.4% in June

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totaling 101,771 shares, a growth of 107.4% from the May 31st total of 49,071 shares. Based on an average daily trading volume, of 954,316 shares, the days-to-cover ratio is currently 0.1 days. Currently, 11.3% of the shares of the stock are short sold.

Purple Biotech Stock Up 4.2%

Shares of NASDAQ PPBT traded up $0.07 during mid-day trading on Wednesday, hitting $1.75. 56,127 shares of the company traded hands, compared to its average volume of 159,839. Purple Biotech has a 1 year low of $1.42 and a 1 year high of $29.00. The stock has a market capitalization of $1.63 million, a price-to-earnings ratio of -0.09 and a beta of 0.61. The business has a 50 day moving average of $3.10 and a two-hundred day moving average of $4.68.

Purple Biotech (NASDAQ:PPBT) last released its quarterly earnings results on Saturday, May 16th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.29. As a group, research analysts anticipate that Purple Biotech will post -5.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PPBT. HC Wainwright dropped their price target on shares of Purple Biotech from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Zacks Research raised shares of Purple Biotech from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Weiss Ratings upgraded shares of Purple Biotech from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Institutional Investors Weigh In On Purple Biotech

A hedge fund recently bought a new position in Purple Biotech stock. Virtu Financial LLC acquired a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned 0.38% of Purple Biotech at the end of the most recent quarter. 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.