Short Interest in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Declines By 38.8%

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) saw a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 76,574 shares, a decrease of 38.8% from the January 29th total of 125,042 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average trading volume of 93,957 shares, the days-to-cover ratio is presently 0.8 days. Based on an average trading volume of 93,957 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.6% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PPBT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Purple Biotech in a research note on Monday, December 29th. Wall Street Zen downgraded Purple Biotech to a “strong sell” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Purple Biotech has a consensus rating of “Sell”.

Hedge Funds Weigh In On Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. Virtu Financial LLC acquired a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned about 0.38% of Purple Biotech at the end of the most recent quarter. Institutional investors and hedge funds own 9.64% of the company’s stock.

Purple Biotech Trading Down 11.2%

Shares of PPBT stock traded down $0.06 during trading hours on Friday, reaching $0.44. 370,730 shares of the company’s stock were exchanged, compared to its average volume of 109,083. Purple Biotech has a 1 year low of $0.41 and a 1 year high of $3.05. The stock has a market cap of $5.68 million, a PE ratio of -1.38 and a beta of 0.66. The stock’s fifty day moving average price is $0.62 and its two-hundred day moving average price is $0.82.

Shares of Purple Biotech are going to reverse split on the morning of Monday, March 2nd. The 1-10 reverse split was announced on Wednesday, February 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, March 1st.

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.