Purple Biotech (NASDAQ:PPBT) Stock Set to Reverse Split on Monday, March 2nd

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) shares are scheduled to reverse split on Monday, March 2nd. The 1-10 reverse split was announced on Wednesday, February 25th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, February 27th.

Purple Biotech Stock Performance

Shares of NASDAQ:PPBT traded down $0.02 during trading on Thursday, hitting $0.50. The company’s stock had a trading volume of 124,484 shares, compared to its average volume of 100,004. The company has a market capitalization of $6.40 million, a PE ratio of -1.56 and a beta of 0.66. Purple Biotech has a fifty-two week low of $0.46 and a fifty-two week high of $3.05. The business has a 50 day moving average price of $0.63 and a two-hundred day moving average price of $0.86.

Analyst Ratings Changes

PPBT has been the topic of several analyst reports. Wall Street Zen cut shares of Purple Biotech to a “strong sell” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Purple Biotech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Purple Biotech presently has a consensus rating of “Sell”.

Institutional Trading of Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC purchased a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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. Hedge funds and other institutional investors 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 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.