Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Short Interest Down 38.8% in February

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 76,574 shares, a drop of 38.8% from the January 29th total of 125,042 shares. Based on an average daily trading volume, of 93,957 shares, the short-interest ratio is currently 0.8 days. Approximately 0.6% of the shares of the company are sold short. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 93,957 shares, the short-interest ratio is currently 0.8 days.

Analyst Ratings Changes

A number of research firms recently weighed in on PPBT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Purple Biotech in a report on Monday, December 29th. Wall Street Zen cut shares of Purple Biotech to a “strong sell” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

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 stake in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 3rd quarter, according to the company in its most recent 13F filing 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 0.38% of Purple Biotech as of its most recent SEC filing. Hedge funds and other institutional investors own 9.64% of the company’s stock.

Purple Biotech Stock Down 11.2%

PPBT stock opened at $0.44 on Friday. The company has a 50-day simple moving average of $0.62 and a 200 day simple moving average of $0.84. The company has a market capitalization of $5.68 million, a P/E ratio of -1.38 and a beta of 0.66. Purple Biotech has a fifty-two week low of $0.41 and a fifty-two week high of $3.05.

Purple Biotech’s stock is scheduled to reverse split before the market opens on Monday, March 2nd. The 1-10 reverse split was announced on Wednesday, February 11th. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, March 1st.

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.