Purple Biotech (NASDAQ:PPBT) Posts Earnings Results, Misses Estimates By $16.45 EPS

Purple Biotech (NASDAQ:PPBT) issued its quarterly earnings results on Friday. The company reported ($19.85) EPS for the quarter, missing the consensus estimate of ($3.40) by ($16.45), Zacks reports.

Purple Biotech Trading Up 6.8%

Shares of PPBT stock opened at $4.10 on Friday. Purple Biotech has a twelve month low of $3.70 and a twelve month high of $30.50. The stock has a fifty day simple moving average of $5.74 and a two-hundred day simple moving average of $7.03. The stock has a market capitalization of $5.27 million, a price-to-earnings ratio of -0.20 and a beta of 0.66.

Institutional Investors Weigh In On Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. SmartHarvest Portfolios LLC acquired a new stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,454 shares of the company’s stock, valued at approximately $31,000. SmartHarvest Portfolios LLC owned 0.37% of Purple Biotech as of its most recent SEC filing. Institutional investors and hedge funds own 9.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PPBT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Purple Biotech in a research note on Monday, December 29th. Wall Street Zen cut Purple Biotech to a “strong sell” rating in a research note on Friday, November 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Purple Biotech has a consensus rating of “Sell”.

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.