Wall Street Zen Downgrades Purple Biotech (NASDAQ:PPBT) to Strong Sell

Purple Biotech (NASDAQ:PPBT) was downgraded by Wall Street Zen to a “strong sell” rating in a research report issued to clients and investors on Friday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Purple Biotech in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Purple Biotech Trading Up 0.8%

Shares of NASDAQ PPBT opened at $0.80 on Friday. The stock has a market cap of $10.28 million, a P/E ratio of -1.90 and a beta of 0.64. The business’s fifty day simple moving average is $0.69 and its 200-day simple moving average is $1.63. Purple Biotech has a 12-month low of $0.53 and a 12-month high of $13.95.

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 shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.38% of Purple Biotech at the end of the most recent quarter. 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.