Purple Biotech (NASDAQ:PPBT) Issues Quarterly Earnings Results

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

Purple Biotech Trading Up 1.4%

Shares of NASDAQ:PPBT traded up $0.02 during mid-day trading on Friday, reaching $1.43. The stock had a trading volume of 49,242 shares, compared to its average volume of 25,327. The firm has a 50 day simple moving average of $1.79 and a two-hundred day simple moving average of $3.62. Purple Biotech has a twelve month low of $1.16 and a twelve month high of $24.00. The firm has a market cap of $1.33 million, a PE ratio of -0.08 and a beta of 0.67.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of Purple Biotech from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings raised 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 issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Purple Biotech has a consensus rating of “Hold” and a consensus price target of $30.00.

Institutional Investors Weigh In On Purple Biotech

A hedge fund recently bought a new position in Purple Biotech stock. SmartHarvest Portfolios LLC purchased a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 47,454 shares of the company’s stock, valued at approximately $31,000. SmartHarvest Portfolios LLC owned approximately 0.37% of Purple Biotech as of its most recent SEC filing. 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.