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

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) shares are scheduled to reverse split before the market opens 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 Price Performance

NASDAQ:PPBT traded down $0.02 during trading hours on Thursday, reaching $0.50. 124,484 shares of the company were exchanged, compared to its average volume of 100,004. The firm has a market cap of $6.40 million, a price-to-earnings ratio of -1.56 and a beta of 0.66. The stock has a 50 day simple moving average of $0.63 and a 200 day simple moving average of $0.86. Purple Biotech has a 52-week low of $0.46 and a 52-week high of $3.05.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Purple Biotech in a research report on Monday, December 29th. Wall Street Zen lowered shares of Purple Biotech to a “strong sell” rating in a research report on Friday, November 28th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Purple Biotech stock. Virtu Financial LLC purchased a new stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.38% of Purple Biotech at the end of the most recent quarter. 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.