Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Short Interest Update

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 18,265 shares, a decline of 32.6% from the June 30th total of 27,089 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 35,978 shares, the short-interest ratio is currently 0.5 days.

Purple Biotech Stock Performance

Purple Biotech stock opened at $1.39 on Friday. The stock has a market capitalization of $1.29 million, a price-to-earnings ratio of -0.07 and a beta of 0.68. Purple Biotech has a 52-week low of $1.33 and a 52-week high of $24.00. The stock’s 50 day moving average price is $1.96 and its two-hundred day moving average price is $3.82.

Purple Biotech (NASDAQ:PPBT) last released its quarterly earnings data on Saturday, May 16th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.29. On average, equities research analysts forecast that Purple Biotech will post -5.31 EPS for the current year.

Hedge Funds 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) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 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 Analyst Weigh In

A number of brokerages have weighed in on PPBT. Weiss Ratings downgraded Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, July 16th. Zacks Research raised 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 given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.00.

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.