Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Sees Significant Drop in Short Interest

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 159,633 shares, a drop of 73.4% from the December 15th total of 600,079 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 151,492 shares, the short-interest ratio is currently 1.1 days. Based on an average daily trading volume, of 151,492 shares, the short-interest ratio is currently 1.1 days. Approximately 1.3% of the company’s stock are short sold.

Purple Biotech Trading Down 1.1%

NASDAQ:PPBT traded down $0.01 during mid-day trading on Wednesday, hitting $0.66. 84,290 shares of the company’s stock traded hands, compared to its average volume of 108,872. The firm has a 50 day moving average of $0.75 and a two-hundred day moving average of $1.23. The firm has a market capitalization of $8.48 million, a price-to-earnings ratio of -2.06 and a beta of 0.64. Purple Biotech has a 12 month low of $0.53 and a 12 month high of $3.87.

Wall Street Analyst Weigh In

PPBT has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Purple Biotech in a research note on Monday, December 29th. Wall Street Zen lowered shares of Purple Biotech to a “strong sell” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

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) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.38% of Purple Biotech at the end of the most recent quarter. 9.64% of the stock is currently owned by 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.