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

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 26,155 shares, an increase of 148.4% from the July 30th total of 10,531 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average trading volume of 127,237 shares, the days-to-cover ratio is currently 0.2 days.

Purple Biotech Price Performance

NASDAQ PPBT traded up $0.02 on Friday, reaching $1.68. 38,248 shares of the company’s stock traded hands, compared to its average volume of 83,389. Purple Biotech has a 12 month low of $1.16 and a 12 month high of $22.00. The stock has a market cap of $1.56 million, a PE ratio of -0.07 and a beta of 0.67. The stock has a 50-day simple moving average of $1.55 and a 200 day simple moving average of $3.14.

Purple Biotech (NASDAQ:PPBT) last issued its earnings results on Friday, August 7th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $2.05. As a group, analysts anticipate that Purple Biotech will post -5.73 EPS for the current year.

Institutional Investors Weigh In On Purple Biotech

A hedge fund recently bought a new position in Purple Biotech stock. Virtu Financial LLC purchased a new position in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during 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 reporting period. Institutional investors and hedge funds own 9.64% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.00.

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.