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

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a large increase in short interest in August. As of August 14th, there was short interest totaling 26,155 shares, an increase of 148.4% from the July 30th total of 10,531 shares. Based on an average trading volume of 127,237 shares, the short-interest ratio is currently 0.2 days. Currently, 2.9% of the company’s shares are sold short.

Hedge Funds Weigh In On Purple Biotech

An institutional investor recently bought a new stake in Purple Biotech stock. Virtu Financial LLC purchased a new stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned about 0.38% of Purple Biotech as of its most recent SEC filing. 9.64% of the stock is owned by institutional investors.

Purple Biotech Stock Performance

NASDAQ PPBT opened at $1.79 on Friday. The company has a market capitalization of $1.66 million, a P/E ratio of -0.08 and a beta of 0.67. The company has a fifty day moving average of $1.55 and a 200-day moving average of $3.15. Purple Biotech has a 52-week low of $1.16 and a 52-week high of $22.00.

Purple Biotech (NASDAQ:PPBT) last announced its quarterly earnings data 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. As a group, analysts forecast that Purple Biotech will post -5.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.00.

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.