Purple Biotech (NASDAQ:PPBT) Shares Set to Reverse Split on Monday, March 2nd

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) shares are set to reverse split on the morning of Monday, March 2nd. The 1-10 reverse split was announced on Wednesday, February 11th. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, March 1st.

Purple Biotech Price Performance

Shares of NASDAQ PPBT opened at $0.50 on Friday. The stock has a market capitalization of $6.36 million, a P/E ratio of -1.55 and a beta of 0.66. Purple Biotech has a 1 year low of $0.46 and a 1 year high of $3.33. The company’s 50-day moving average is $0.65 and its 200 day moving average is $0.89.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PPBT shares. Wall Street Zen downgraded Purple Biotech to a “strong sell” rating in a research note on Friday, November 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Purple Biotech in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC purchased a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned 0.38% of Purple Biotech at the end of the most recent quarter. Institutional investors own 9.64% of the company’s stock.

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.