Purple Biotech (PPBT) Projected to Post Quarterly Earnings on Wednesday

Purple Biotech (NASDAQ:PPBT) is projected to release its results before the market opens on Wednesday, May 20th. Analysts expect Purple Biotech to post earnings of ($0.38) per share for the quarter.

Purple Biotech (NASDAQ:PPBT) last released its earnings results on Friday, March 13th. The company reported ($19.85) earnings per share for the quarter, missing the consensus estimate of ($3.40) by ($16.45). On average, analysts expect Purple Biotech to post $-17 EPS for the current fiscal year and $-6 EPS for the next fiscal year.

Purple Biotech Stock Performance

PPBT opened at $3.85 on Wednesday. The company has a 50-day moving average of $4.23 and a 200-day moving average of $5.99. The company has a market capitalization of $4.93 million, a P/E ratio of -0.19 and a beta of 0.68. Purple Biotech has a 1-year low of $3.60 and a 1-year high of $29.00.

Institutional Investors Weigh In On Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC acquired a new stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on PPBT. Zacks Research raised shares of Purple Biotech from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. HC Wainwright dropped their target price on shares of Purple Biotech from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Weiss Ratings downgraded shares of Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.00.

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.