Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Short Interest Update

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 600,079 shares, a growth of 131.1% from the November 30th total of 259,664 shares. Currently, 4.8% of the company’s stock are sold short. Based on an average trading volume of 1,176,791 shares, the days-to-cover ratio is presently 0.5 days. Based on an average trading volume of 1,176,791 shares, the days-to-cover ratio is presently 0.5 days. Currently, 4.8% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PPBT. Weiss Ratings restated a “sell (e)” rating on shares of Purple Biotech in a report on Monday, December 15th. Wall Street Zen downgraded shares of Purple Biotech to a “strong sell” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Purple Biotech currently 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 acquired a new position in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned about 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.

Purple Biotech Stock Performance

Shares of Purple Biotech stock opened at $0.71 on Monday. The firm has a fifty day simple moving average of $0.76 and a 200-day simple moving average of $1.38. The stock has a market capitalization of $9.07 million, a price-to-earnings ratio of -2.21 and a beta of 0.60. Purple Biotech has a 1-year low of $0.53 and a 1-year high of $5.20.

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.