Purple Biotech (PPBT) Expected to Release Quarterly Earnings on Wednesday

Purple Biotech (NASDAQ:PPBT) will likely be posting its results before the market opens on Wednesday, August 5th. Analysts expect Purple Biotech to post earnings of ($0.98) per share for the quarter.

Purple Biotech (NASDAQ:PPBT) last posted its quarterly earnings data on Saturday, May 16th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.29. On average, analysts expect Purple Biotech to post $-5 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Purple Biotech Stock Performance

PPBT stock opened at $1.37 on Wednesday. The company’s 50 day moving average price is $2.02 and its two-hundred day moving average price is $3.90. Purple Biotech has a one year low of $1.33 and a one year high of $24.00. The company has a market capitalization of $1.27 million, a PE ratio of -0.07 and a beta of 0.68.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Purple Biotech stock. SmartHarvest Portfolios LLC acquired a new stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 47,454 shares of the company’s stock, valued at approximately $31,000. SmartHarvest Portfolios LLC owned about 0.37% of Purple Biotech at the end of the most recent reporting period. 9.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PPBT has been the subject of a number of analyst reports. Zacks Research raised Purple Biotech from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings downgraded shares of Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.00.

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.