Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Sees Significant Growth in Short Interest

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a large increase in short interest in May. As of May 29th, there was short interest totaling 49,071 shares, an increase of 557.7% from the May 14th total of 7,461 shares. Based on an average trading volume of 676,551 shares, the short-interest ratio is currently 0.1 days. Currently, 3.9% of the company’s shares are short sold.

Purple Biotech Stock Down 48.0%

NASDAQ:PPBT traded down $1.42 on Thursday, reaching $1.54. 10,457,904 shares of the company’s stock were exchanged, compared to its average volume of 165,098. The firm has a market capitalization of $1.98 million, a price-to-earnings ratio of -0.08 and a beta of 0.61. The business has a fifty day moving average of $3.79 and a 200-day moving average of $5.32. Purple Biotech has a 52-week low of $1.48 and a 52-week high of $29.00.

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. HC Wainwright cut 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 note on Friday, March 13th. Zacks Research upgraded 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 research note on Friday, May 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Institutional Trading of Purple Biotech

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

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.