Purple Biotech (NASDAQ:PPBT) Posts Earnings Results, Misses Estimates By $16.45 EPS

Purple Biotech (NASDAQ:PPBT) issued its quarterly earnings results on Friday. The company reported ($19.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.40) by ($16.45), Zacks reports.

Purple Biotech Trading Up 6.8%

NASDAQ:PPBT opened at $4.10 on Friday. The stock has a 50-day moving average price of $5.74 and a 200 day moving average price of $7.03. Purple Biotech has a 12-month low of $3.70 and a 12-month high of $30.50. The stock has a market capitalization of $5.27 million, a P/E ratio of -0.20 and a beta of 0.66.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. Virtu Financial LLC bought a new position in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 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 currently owned by hedge funds and other institutional investors.

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.