Short Interest in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Expands By 29.9%

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) saw a large increase in short interest in January. As of January 30th, there was short interest totaling 125,042 shares, an increase of 29.9% from the January 15th total of 96,234 shares. Based on an average daily volume of 115,523 shares, the short-interest ratio is presently 1.1 days. Approximately 1.0% of the shares of the stock are short sold. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 115,523 shares, the short-interest ratio is presently 1.1 days.

Purple Biotech Price Performance

NASDAQ:PPBT opened at $0.59 on Wednesday. The company has a market cap of $7.52 million, a price-to-earnings ratio of -1.83 and a beta of 0.66. Purple Biotech has a 1 year low of $0.53 and a 1 year high of $3.48. The stock’s 50 day simple moving average is $0.66 and its two-hundred day simple moving average is $0.92.

Purple Biotech’s stock is set to reverse split on Monday, March 2nd. The 1-10 reverse split was announced on Wednesday, February 11th. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, March 1st.

Analysts Set New Price Targets

PPBT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Purple Biotech in a report on Monday, December 29th. Wall Street Zen lowered shares of Purple Biotech to a “strong sell” rating in a research report on Friday, November 28th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Purple Biotech presently has an average rating of “Sell”.

Institutional Inflows and Outflows

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

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.