Short Interest in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Grows By 107.4%

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 101,771 shares, a growth of 107.4% from the May 31st total of 49,071 shares. Currently, 11.3% of the shares of the stock are sold short. Based on an average trading volume of 954,316 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings raised shares of Purple Biotech from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday. HC Wainwright lowered their price objective on Purple Biotech from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Finally, Zacks Research upgraded Purple Biotech from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Purple Biotech presently has an average rating of “Hold” and a consensus target price of $30.00.

Institutional Investors Weigh In On Purple Biotech

An institutional investor recently bought a new stake in Purple Biotech stock. Virtu Financial LLC purchased a new stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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 SEC filing. 9.64% of the stock is owned by institutional investors.

Purple Biotech Stock Performance

Shares of PPBT stock traded up $0.02 during trading hours on Tuesday, reaching $1.76. The company had a trading volume of 74,646 shares, compared to its average volume of 160,071. The business has a fifty day moving average price of $3.17 and a 200-day moving average price of $4.73. Purple Biotech has a one year low of $1.42 and a one year high of $29.00. The firm has a market cap of $1.64 million, a PE ratio of -0.09 and a beta of 0.61.

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

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.