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

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

Purple Biotech Trading Down 3.9%

NASDAQ:PPBT traded down $0.17 during trading hours on Monday, hitting $4.25. 53,371 shares of the company were exchanged, compared to its average volume of 109,083. The stock has a market capitalization of $54.61 million, a price-to-earnings ratio of -13.28 and a beta of 0.66. Purple Biotech has a one year low of $3.98 and a one year high of $30.50. The company has a fifty day simple moving average of $6.17 and a 200 day simple moving average of $8.08.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Weiss Ratings reiterated 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 research note on Friday, November 28th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Purple Biotech currently has a consensus 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 shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the third quarter, according to the company in 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 0.38% of Purple Biotech as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.