Purple Biotech’s (PPBT) Buy Rating Reiterated at HC Wainwright

Purple Biotech (NASDAQ:PPBT)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They currently have a $10.00 target price on the stock.

Purple Biotech Stock Performance

Shares of Purple Biotech stock traded down $0.04 on Friday, reaching $0.48. The company had a trading volume of 115,996 shares, compared to its average volume of 131,374. The firm has a market cap of $12.12 million, a PE ratio of -0.53 and a beta of 0.94. The firm’s 50 day moving average price is $0.67 and its two-hundred day moving average price is $0.86. Purple Biotech has a 52-week low of $0.30 and a 52-week high of $2.08.

Purple Biotech (NASDAQ:PPBT) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). As a group, sell-side analysts predict that Purple Biotech will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Kingswood Wealth Advisors LLC grew its holdings in shares of Purple Biotech by 34.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 175,100 shares of the company’s stock valued at $137,000 after purchasing an additional 44,450 shares in the last quarter. WuXi AppTec Co. Ltd. acquired a new position in Purple Biotech during the 4th quarter worth approximately $151,000. Finally, Armistice Capital LLC purchased a new stake in shares of Purple Biotech in the 4th quarter valued at approximately $1,468,000. Institutional investors and hedge funds own 9.64% of the company’s stock.

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 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.