Purple Biotech Ltd (NASDAQ:PPBT – Get Free Report) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 19,700 shares, a decrease of 95.3% from the August 31st total of 418,800 shares. Based on an average trading volume of 20,100 shares, the short-interest ratio is currently 1.0 days. Approximately 1.2% of the company’s shares are short sold.
Purple Biotech Stock Down 4.8 %
Shares of NASDAQ PPBT traded down $0.29 during midday trading on Wednesday, reaching $5.71. 79,099 shares of the company traded hands, compared to its average volume of 12,223. Purple Biotech has a 52 week low of $5.30 and a 52 week high of $36.00. The stock has a market cap of $7.19 million, a P/E ratio of -7.90 and a beta of 1.07.
Purple Biotech (NASDAQ:PPBT – Get Free Report) last issued its quarterly earnings data on Friday, August 16th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05.
Analyst Ratings Changes
View Our Latest Research Report on PPBT
Institutional Investors Weigh In On Purple Biotech
An institutional investor recently bought a new position in Purple Biotech stock. Armistice Capital LLC purchased a new position in Purple Biotech Ltd (NASDAQ:PPBT – Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,882,173 shares of the company’s stock, valued at approximately $1,468,000. Armistice Capital LLC owned approximately 8.54% of Purple Biotech at the end of the most recent quarter. Hedge funds and other institutional investors own 9.64% of the company’s stock.
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.
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