Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Sees Large Decline in Short Interest

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 96,234 shares, a decline of 39.7% from the December 31st total of 159,633 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 80,055 shares, the short-interest ratio is currently 1.2 days. Based on an average daily trading volume, of 80,055 shares, the short-interest ratio is currently 1.2 days. Currently, 0.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

PPBT has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Purple Biotech to a “strong sell” rating in a report on Friday, November 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Purple Biotech in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. Virtu Financial LLC purchased a new stake in 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 firm purchased 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 reporting period. 9.64% of the stock is currently owned by institutional investors and hedge funds.

Purple Biotech Trading Down 3.2%

PPBT traded down $0.02 on Friday, hitting $0.60. 96,947 shares of the company were exchanged, compared to its average volume of 94,833. The firm has a 50-day moving average price of $0.72 and a two-hundred day moving average price of $1.09. The company has a market cap of $7.76 million, a price-to-earnings ratio of -1.89 and a beta of 0.64. Purple Biotech has a twelve month low of $0.53 and a twelve month high of $3.48.

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.