Purple Biotech (PPBT) to Release Quarterly Earnings on Monday

Purple Biotech (NASDAQ:PPBT) is expected to 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 Down 11.2%

Shares of PPBT stock opened at $0.44 on Monday. Purple Biotech has a 52-week low of $0.41 and a 52-week 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 business has a 50-day simple moving average of $0.62 and a 200-day simple moving average of $0.82.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PPBT shares. Weiss Ratings restated a “sell (e+)” rating on shares of Purple Biotech in a research report on Monday, December 29th. Wall Street Zen cut shares of Purple Biotech to a “strong sell” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Purple Biotech 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 bought a new stake in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 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 reporting period. Institutional investors 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.