Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Short Interest Down 32.6% in July

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) saw a large decline in short interest in July. As of July 15th, there was short interest totaling 18,265 shares, a decline of 32.6% from the June 30th total of 27,089 shares. Based on an average daily trading volume, of 35,978 shares, the days-to-cover ratio is currently 0.5 days. Currently, 2.0% of the shares of the stock are sold short.

Purple Biotech Trading Up 2.2%

NASDAQ PPBT opened at $1.40 on Friday. Purple Biotech has a 12 month low of $1.33 and a 12 month high of $24.00. The stock has a market cap of $1.30 million, a PE ratio of -0.07 and a beta of 0.68. The stock’s 50 day moving average is $1.93 and its 200 day moving average is $3.80.

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

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 Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 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.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Zacks Research raised shares of Purple Biotech from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings cut Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.00.

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.