Purple Biotech (NASDAQ:PPBT) Stock Price Down 2.1% – Time to Sell?

Shares of Purple Biotech Ltd (NASDAQ:PPBT) traded down 2.1% on Thursday . The company traded as low as $4.28 and last traded at $4.59. 140,696 shares changed hands during trading, a decline of 41% from the average session volume of 240,351 shares. The stock had previously closed at $4.69.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $33.00 price target on shares of Purple Biotech in a report on Friday, November 15th.

Purple Biotech Stock Performance

The company has a market capitalization of $6.11 million, a price-to-earnings ratio of -0.52 and a beta of 1.12. The firm has a fifty day moving average price of $3.60.

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.