Purple Biotech’s (PPBT) Buy Rating Reiterated at HC Wainwright

Purple Biotech (NASDAQ:PPBT)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Friday, Benzinga reports. They presently have a $10.00 price target on the stock.

Purple Biotech Stock Down 7.0 %

Shares of PPBT stock traded down $0.04 on Friday, reaching $0.48. The company’s stock had a trading volume of 115,996 shares, compared to its average volume of 131,374. Purple Biotech has a 12-month low of $0.30 and a 12-month high of $2.08. The company has a market capitalization of $12.12 million, a P/E ratio of -0.53 and a beta of 0.94. The stock’s 50 day simple moving average is $0.67 and its 200-day simple moving average is $0.86.

Purple Biotech (NASDAQ:PPBT) last released its earnings results on Tuesday, March 5th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Research analysts expect that Purple Biotech will post -0.46 EPS for the current year.

Institutional Trading of Purple Biotech

Several large investors have recently modified their holdings of the business. Kingswood Wealth Advisors LLC grew its stake in shares of Purple Biotech by 34.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 175,100 shares of the company’s stock worth $137,000 after purchasing an additional 44,450 shares during the last quarter. WuXi AppTec Co. Ltd. purchased a new stake in Purple Biotech in the fourth quarter worth about $151,000. Finally, Armistice Capital LLC purchased a new stake in Purple Biotech in the fourth quarter worth about $1,468,000. 9.64% of the stock is owned by institutional investors.

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 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.