Purple Biotech (PPBT) to Release Quarterly Earnings on Monday

Purple Biotech (NASDAQ:PPBT) will likely be announcing its results before the market opens on Monday, March 9th. Analysts expect the company to announce earnings of ($0.34) per share for the quarter.

Purple Biotech Stock Performance

Purple Biotech stock opened at $0.44 on Monday. Purple Biotech has a one year low of $0.41 and a one year high of $3.05. The stock has a market cap of $5.68 million, a PE ratio of -1.38 and a beta of 0.66. The stock has a 50-day moving average of $0.62 and a two-hundred day moving average of $0.82.

Wall Street Analysts Forecast Growth

PPBT has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Purple Biotech in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Purple Biotech to a “strong sell” rating in a research note on Friday, November 28th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Trading of Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC acquired a new position in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned 0.38% of Purple Biotech at the end of the most recent reporting period. Institutional investors and hedge funds own 9.64% of the company’s stock.

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.