Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Sees Significant Growth in Short Interest

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 80,940 shares, a growth of 187.8% from the August 31st total of 28,119 shares. Currently, 9.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 7,653,979 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, September 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.00.

Purple Biotech Stock Performance

Purple Biotech stock traded up $0.03 on Friday, reaching $1.51. The company’s stock had a trading volume of 25,845 shares, compared to its average volume of 3,974,401. The business’s fifty day moving average price is $1.56 and its 200 day moving average price is $2.63. The company has a market cap of $1.40 million, a price-to-earnings ratio of -0.06 and a beta of 0.71. Purple Biotech has a twelve month low of $1.16 and a twelve month high of $14.10.

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

About Purple Biotech

Purple Biotech Ltd. (NASDAQ: PPBT) is a clinical-stage biopharmaceutical company focused on developing therapies for cancer. The company’s research programs are designed to address mechanisms that can limit the effectiveness of existing immunotherapies and other cancer treatments.

Purple Biotech’s principal investigational programs have included CM24, an antibody intended to target CEACAM1 and enhance antitumor immune responses, and NT219, a small-molecule treatment candidate designed to interfere with signaling pathways associated with cancer-cell survival and resistance to therapy.