Weiss Ratings Reaffirms “Sell (E+)” Rating for Purple Biotech (NASDAQ:PPBT)

Purple Biotech (NASDAQ:PPBT)‘s stock had its “sell (e+)” rating reissued by equities researchers at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

Purple Biotech Trading Up 2.2%

PPBT opened at $0.59 on Friday. Purple Biotech has a 12 month low of $0.53 and a 12 month high of $13.95. The stock has a 50-day moving average of $0.98 and a 200 day moving average of $1.93. The firm has a market cap of $7.58 million, a P/E ratio of -1.40 and a beta of 0.61.

Purple Biotech (NASDAQ:PPBT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.19). On average, research analysts forecast that Purple Biotech will post -0.83 earnings per share for the current fiscal year.

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.