Purple Biotech (NASDAQ:PPBT) Stock Price Down 3.6% – Should You Sell?

Purple Biotech Ltd (NASDAQ:PPBT) shares traded down 3.6% on Monday . The company traded as low as $2.39 and last traded at $2.40. 16,234 shares changed hands during trading, a decline of 94% from the average session volume of 271,753 shares. The stock had previously closed at $2.49.

Purple Biotech Trading Down 3.6%

The business’s 50 day moving average price is $2.52 and its two-hundred day moving average price is $3.13. The stock has a market cap of $3.19 million, a P/E ratio of -0.27 and a beta of 0.57.

Purple Biotech (NASDAQ:PPBT) last announced its earnings results on Wednesday, May 21st. The company reported ($0.17) earnings per share for the quarter. As a group, analysts expect that Purple Biotech Ltd will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. Two Sigma Securities LLC bought a new stake in shares of Purple Biotech Ltd (NASDAQ:PPBT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,374 shares of the company’s stock, valued at approximately $72,000. Two Sigma Securities LLC owned approximately 1.16% of Purple Biotech at the end of the most recent quarter. 9.64% of the stock is currently owned by institutional investors.

Purple Biotech Company Profile

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.