Purple Biotech (PPBT) to Release Earnings on Friday

Purple Biotech (NASDAQ:PPBT) is anticipated to post its results before the market opens on Friday, November 21st. Analysts expect Purple Biotech to post earnings of ($0.26) per share for the quarter.

Purple Biotech Stock Up 11.2%

Shares of Purple Biotech stock opened at $0.80 on Wednesday. The business has a fifty day simple moving average of $0.66 and a 200 day simple moving average of $1.71. The stock has a market cap of $10.29 million, a PE ratio of -1.91 and a beta of 0.64. Purple Biotech has a 12 month low of $0.53 and a 12 month high of $13.95.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC acquired a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.38% of Purple Biotech as of its most recent SEC filing. 9.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Purple Biotech in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.