Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Shares Shorted: Short Interest Down 77.6% in September

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 18,115 shares, a decline of 77.6% from the September 15th total of 80,940 shares. Based on an average trading volume of 49,113 shares, the short-interest ratio is presently 0.4 days. Currently, 2.0% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, September 18th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.00.

Purple Biotech Stock Down 3.6%

PPBT traded down $0.05 on Tuesday, hitting $1.33. The company had a trading volume of 8,915 shares, compared to its average volume of 518,795. The business’s fifty day simple moving average is $1.58 and its 200 day simple moving average is $2.42. Purple Biotech has a 12-month low of $1.16 and a 12-month high of $14.10. The company has a market cap of $1.24 million, a PE ratio of -0.06 and a beta of 0.73.

Purple Biotech (NASDAQ:PPBT) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.98) by $2.05. On average, analysts anticipate that Purple Biotech will post -5.73 earnings per share for the current fiscal year.

Purple Biotech Company Profile

Purple Biotech Ltd. is an Israel-based clinical-stage biopharmaceutical company focused on developing therapies for cancer. The company’s research programs are designed to address mechanisms that contribute to tumor growth, immune evasion and resistance to existing treatments.

Purple Biotech’s principal product candidates have included CM24, an investigational monoclonal antibody targeting CEACAM1, an immune checkpoint that may help tumors avoid immune-system detection, and NT219, an investigational small-molecule oncology therapy designed to inhibit signaling pathways associated with resistance to cancer treatments.