Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Stock Short Interest Report for September

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 18,115 shares, a decline of 77.6% from the September 15th total of 80,940 shares. Based on an average daily volume of 49,113 shares, the short-interest ratio is presently 0.4 days. Currently, 2.0% of the shares of the company are sold short.

Analyst Ratings Changes

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

Purple Biotech Stock Down 7.6%

Shares of NASDAQ:PPBT traded down $0.11 during trading on Friday, reaching $1.33. 26,774 shares of the company’s stock traded hands, compared to its average volume of 45,757. Purple Biotech has a fifty-two week low of $1.16 and a fifty-two week high of $14.10. The firm has a market cap of $1.24 million, a PE ratio of -0.06 and a beta of 0.73. The company has a 50-day simple moving average of $1.58 and a 200-day simple moving average of $2.45.

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

About Purple Biotech

Purple Biotech Ltd. is an Israel-based clinical-stage biopharmaceutical company focused on developing therapies for cancer. The company’s research programs are designed to address mechanisms that contribute to tumor growth, immune evasion and resistance to existing treatments.

Purple Biotech’s principal product candidates have included CM24, an investigational monoclonal antibody targeting CEACAM1, an immune checkpoint that may help tumors avoid immune-system detection, and NT219, an investigational small-molecule oncology therapy designed to inhibit signaling pathways associated with resistance to cancer treatments.