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

Purple Biotech (NASDAQ:PPBT) is expected to be issuing its results before the market opens on Wednesday, August 5th. Analysts expect Purple Biotech to announce earnings of ($0.98) per share for the quarter.

Purple Biotech (NASDAQ:PPBT) last announced its quarterly earnings data on Saturday, May 16th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.29. On average, analysts expect Purple Biotech to post $-5 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Purple Biotech Trading Down 4.9%

Shares of NASDAQ PPBT opened at $1.37 on Wednesday. The firm has a market capitalization of $1.27 million, a P/E ratio of -0.07 and a beta of 0.68. The firm’s 50-day moving average price is $2.02 and its 200-day moving average price is $3.90. Purple Biotech has a 1-year low of $1.33 and a 1-year high of $24.00.

Institutional Trading of Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. SmartHarvest Portfolios LLC acquired a new stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 47,454 shares of the company’s stock, valued at approximately $31,000. SmartHarvest Portfolios LLC owned approximately 0.37% of Purple Biotech at the end of the most recent quarter. 9.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings cut Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, July 16th. Zacks Research raised Purple Biotech from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.