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

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 159,633 shares, a decrease of 73.4% from the December 15th total of 600,079 shares. Based on an average trading volume of 151,492 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.3% of the shares of the stock are short sold. Approximately 1.3% of the shares of the stock are short sold. Based on an average trading volume of 151,492 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

Several brokerages have recently commented on PPBT. Weiss Ratings restated a “sell (e+)” rating on shares of Purple Biotech in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Purple Biotech to a “strong sell” rating in a report on Friday, November 28th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Purple Biotech presently has a consensus rating of “Sell”.

Purple Biotech Stock Down 1.6%

Shares of NASDAQ:PPBT opened at $0.68 on Tuesday. The firm has a market cap of $8.74 million, a P/E ratio of -2.13 and a beta of 0.64. Purple Biotech has a 12 month low of $0.53 and a 12 month high of $3.91. The company’s 50-day moving average price is $0.76 and its two-hundred day moving average price is $1.25.

Institutional Trading of Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC acquired a new position in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned about 0.38% of Purple Biotech at the end of the most recent reporting period. 9.64% of the stock is currently owned by institutional investors and hedge funds.

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.