Purple Biotech (NASDAQ:PPBT) Shares to Reverse Split on Monday, March 2nd

Shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) are scheduled to reverse split on 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 market closes on Sunday, March 1st.

Purple Biotech Trading Up 3.0%

Shares of PPBT stock opened at $0.52 on Thursday. The company’s fifty day simple moving average is $0.63 and its 200-day simple moving average is $0.86. Purple Biotech has a 52 week low of $0.46 and a 52 week high of $3.07. The company has a market cap of $6.70 million, a PE ratio of -1.63 and a beta of 0.66.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Purple Biotech in a research report on Monday, December 29th. Wall Street Zen downgraded Purple Biotech to a “strong sell” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Institutional Trading of Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. Virtu Financial LLC bought a new stake in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 reporting period. Institutional investors own 9.64% of the company’s stock.

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.