WuXi AppTec Co. Ltd. Acquires New Shares in Purple Biotech Ltd (NASDAQ:PPBT)

WuXi AppTec Co. Ltd. bought a new stake in shares of Purple Biotech Ltd (NASDAQ:PPBT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 194,139 shares of the company’s stock, valued at approximately $151,000. Purple Biotech accounts for about 0.4% of WuXi AppTec Co. Ltd.’s investment portfolio, making the stock its 4th largest position. WuXi AppTec Co. Ltd. owned 0.88% of Purple Biotech at the end of the most recent reporting period.

Separately, Kingswood Wealth Advisors LLC boosted its position in Purple Biotech by 34.0% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 175,100 shares of the company’s stock valued at $137,000 after purchasing an additional 44,450 shares in the last quarter. Institutional investors and hedge funds own 9.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Purple Biotech in a report on Friday, April 26th.

Purple Biotech Stock Performance

PPBT traded up $0.04 during trading on Wednesday, hitting $0.55. The stock had a trading volume of 62,153 shares, compared to its average volume of 131,474. The stock has a 50 day simple moving average of $0.64 and a two-hundred day simple moving average of $0.81. The company has a market capitalization of $13.87 million, a PE ratio of -0.55 and a beta of 1.01. Purple Biotech Ltd has a twelve month low of $0.30 and a twelve month high of $1.99.

Purple Biotech (NASDAQ:PPBT) last announced its earnings results on Tuesday, March 5th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.15). On average, equities research analysts anticipate that Purple Biotech Ltd will post -0.46 EPS for the current year.

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.