Purple Biotech (NASDAQ:PPBT) Upgraded at Zacks Research

Zacks Research upgraded shares of Purple Biotech (NASDAQ:PPBT) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

PPBT has been the subject of several other reports. HC Wainwright decreased their price objective on Purple Biotech from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Purple Biotech in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.00.

Purple Biotech Trading Up 2.8%

Shares of Purple Biotech stock opened at $4.11 on Monday. The stock’s fifty day simple moving average is $4.62 and its 200 day simple moving average is $6.18. The company has a market capitalization of $5.26 million, a PE ratio of -0.20 and a beta of 0.69. Purple Biotech has a 12 month low of $3.60 and a 12 month high of $29.40.

Purple Biotech (NASDAQ:PPBT) last posted its earnings results on Friday, March 13th. The company reported ($19.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.40) by ($16.45). Analysts predict that Purple Biotech will post -0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Purple Biotech stock. Virtu Financial LLC purchased a new stake in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 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 SEC filing. Institutional investors and hedge funds own 9.64% of the company’s stock.

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.