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

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) saw a large decrease in short interest in January. As of January 15th, there was short interest totaling 96,234 shares, a decrease of 39.7% from the December 31st total of 159,633 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 80,055 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 80,055 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.8% of the company’s stock are sold short.

Hedge Funds Weigh In On Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. Virtu Financial LLC acquired a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter. 9.64% of the stock is owned by hedge funds and other institutional investors.

Purple Biotech Trading Down 3.2%

PPBT stock traded down $0.02 during trading on Friday, hitting $0.60. The company had a trading volume of 96,947 shares, compared to its average volume of 93,676. The company has a fifty day moving average price of $0.72 and a two-hundred day moving average price of $1.07. Purple Biotech has a fifty-two week low of $0.53 and a fifty-two week high of $3.48. The company has a market cap of $7.76 million, a P/E ratio of -1.89 and a beta of 0.66.

Analyst Upgrades and Downgrades

PPBT has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Purple Biotech in a report on Monday, December 29th. Wall Street Zen lowered Purple Biotech to a “strong sell” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Purple Biotech presently has an average rating of “Sell”.

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.