Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Sees Large Growth in Short Interest

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 80,940 shares, an increase of 187.8% from the August 31st total of 28,119 shares. Approximately 9.0% of the shares of the company are sold short. Based on an average daily trading volume, of 7,653,979 shares, the days-to-cover ratio is presently 0.0 days.

Purple Biotech Trading Up 2.0%

NASDAQ:PPBT traded up $0.03 during midday trading on Friday, hitting $1.51. 25,845 shares of the company traded hands, compared to its average volume of 3,974,401. The firm’s fifty day moving average is $1.56 and its 200-day moving average is $2.63. The firm has a market capitalization of $1.40 million, a P/E ratio of -0.06 and a beta of 0.71. Purple Biotech has a 12-month low of $1.16 and a 12-month high of $14.10.

Purple Biotech (NASDAQ:PPBT) last issued its earnings results on Friday, August 7th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.98) by $2.05. On average, research analysts expect that Purple Biotech will post -5.73 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, September 18th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Purple Biotech has a consensus rating of “Hold” and a consensus price target of $30.00.

About Purple Biotech

Purple Biotech Ltd. (NASDAQ: PPBT) is a clinical-stage biopharmaceutical company focused on developing therapies for cancer. The company’s research programs are designed to address mechanisms that can limit the effectiveness of existing immunotherapies and other cancer treatments.

Purple Biotech’s principal investigational programs have included CM24, an antibody intended to target CEACAM1 and enhance antitumor immune responses, and NT219, a small-molecule treatment candidate designed to interfere with signaling pathways associated with cancer-cell survival and resistance to therapy.