Purple Biotech (NASDAQ:PPBT) Releases Earnings Results, Beats Expectations By $2.05 EPS

Purple Biotech (NASDAQ:PPBT) issued its quarterly earnings data on Friday. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.98) by $2.05, Zacks reports.

Purple Biotech Price Performance

PPBT stock traded up $0.02 on Friday, reaching $1.43. 49,242 shares of the company were exchanged, compared to its average volume of 25,327. The firm has a market capitalization of $1.33 million, a PE ratio of -0.08 and a beta of 0.67. Purple Biotech has a 12 month low of $1.16 and a 12 month high of $24.00. The stock’s fifty day moving average price is $1.79 and its 200 day moving average price is $3.62.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Purple Biotech from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings upgraded shares of Purple Biotech from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Institutional Trading of Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. SmartHarvest Portfolios LLC bought a new stake in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 47,454 shares of the company’s stock, valued at approximately $31,000. SmartHarvest Portfolios LLC owned 0.37% of Purple Biotech as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 9.64% of the company’s stock.

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.