Purple Biotech (NASDAQ:PPBT) Announces Earnings Results

Purple Biotech (NASDAQ:PPBT) released its earnings results on Friday. The company reported ($19.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.40) by ($16.45), Zacks reports.

Purple Biotech Price Performance

NASDAQ:PPBT opened at $4.10 on Friday. The firm has a market capitalization of $5.27 million, a price-to-earnings ratio of -0.20 and a beta of 0.66. The business has a 50 day simple moving average of $5.74 and a 200-day simple moving average of $7.03. Purple Biotech has a 1 year low of $3.70 and a 1 year high of $30.50.

Analyst Upgrades and Downgrades

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

Institutional Trading of Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. SmartHarvest Portfolios LLC acquired a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 47,454 shares of the company’s stock, valued at approximately $31,000. SmartHarvest Portfolios LLC owned 0.37% of Purple Biotech as of its most recent SEC filing. Institutional investors and hedge funds own 9.64% of the company’s stock.

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.