Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Short Interest Down 38.8% in February

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a significant decline in short interest in February. As of February 13th, there was short interest totaling 76,574 shares, a decline of 38.8% from the January 29th total of 125,042 shares. Based on an average trading volume of 93,957 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.6% of the shares of the stock are short sold. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 93,957 shares, the days-to-cover ratio is presently 0.8 days.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Purple Biotech in a report on Monday, December 29th. Wall Street Zen downgraded 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 data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. SmartHarvest Portfolios LLC purchased a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 filing with the Securities and Exchange Commission (SEC). 9.64% of the stock is currently owned by hedge funds and other institutional investors.

Purple Biotech Stock Down 11.2%

Shares of Purple Biotech stock opened at $0.44 on Friday. Purple Biotech has a 12 month low of $0.41 and a 12 month high of $3.05. The stock has a market cap of $5.68 million, a PE ratio of -1.38 and a beta of 0.66. The business has a fifty day simple moving average of $0.62 and a 200-day simple moving average of $0.84.

Purple Biotech’s stock is scheduled to reverse split on the morning of 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 closing bell on Sunday, March 1st.

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.