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

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

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 stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.38% of Purple Biotech at the end of the most recent reporting period. 9.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, August 17th. One research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.00.

Purple Biotech Trading Up 7.8%

PPBT opened at $1.79 on Friday. The company has a market cap of $1.66 million, a price-to-earnings ratio of -0.08 and a beta of 0.67. The company’s 50 day moving average is $1.55 and its 200 day moving average is $3.15. Purple Biotech has a 12-month low of $1.16 and a 12-month high of $22.00.

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

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.