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

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 600,079 shares, a growth of 131.1% from the November 30th total of 259,664 shares. Approximately 4.8% of the company’s stock are short sold. Based on an average daily trading volume, of 1,176,791 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily trading volume, of 1,176,791 shares, the days-to-cover ratio is currently 0.5 days. Approximately 4.8% of the company’s stock are short sold.

Institutional Trading of Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC acquired a new position in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned about 0.38% of Purple Biotech at the end of the most recent quarter. 9.64% of the stock is owned by institutional investors and hedge funds.

Purple Biotech Price Performance

PPBT stock remained flat at $0.71 during trading on Friday. 62,071 shares of the company’s stock were exchanged, compared to its average volume of 731,454. The stock has a market cap of $9.06 million, a P/E ratio of -2.21 and a beta of 0.60. Purple Biotech has a twelve month low of $0.53 and a twelve month high of $5.20. The stock has a 50 day moving average price of $0.76 and a 200 day moving average price of $1.39.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PPBT shares. Wall Street Zen cut shares of Purple Biotech to a “strong sell” rating in a research report on Friday, November 28th. Weiss Ratings restated a “sell (e)” rating on shares of Purple Biotech in a report on Monday, December 15th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Purple Biotech presently has an average rating of “Sell”.

About Purple Biotech

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.