Purple Biotech (PPBT) Projected to Post Earnings on Monday

Purple Biotech (NASDAQ:PPBT) is projected to release its results before the market opens on Monday, March 9th. Analysts expect Purple Biotech to post earnings of ($0.34) per share for the quarter.

Purple Biotech Price Performance

Purple Biotech stock opened at $4.78 on Friday. The stock’s 50 day moving average is $5.99 and its 200 day moving average is $7.78. Purple Biotech has a one year low of $3.98 and a one year high of $30.50. The firm has a market cap of $6.12 million, a P/E ratio of -1.49 and a beta of 0.66.

Institutional Investors Weigh In On Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC bought 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 disclosure with the Securities & Exchange Commission. The firm bought 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned 0.38% of Purple Biotech at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.64% of the company’s stock.

Analyst Ratings Changes

PPBT has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Purple Biotech in a research report on Monday, December 29th. Wall Street Zen cut shares of 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, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.