Purple Biotech (NASDAQ:PPBT) Stock Price Down 3.2% – Here’s What Happened

Purple Biotech Ltd (NASDAQ:PPBT)’s share price traded down 3.2% during mid-day trading on Monday . The stock traded as low as $2.65 and last traded at $2.69. 7,062 shares were traded during mid-day trading, a decline of 97% from the average session volume of 246,750 shares. The stock had previously closed at $2.78.

Purple Biotech Trading Up 1.5 %

The company has a market cap of $3.57 million, a P/E ratio of -0.30 and a beta of 0.95. The business’s 50 day simple moving average is $3.00 and its 200 day simple moving average is $4.72.

Purple Biotech (NASDAQ:PPBT) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.04). Sell-side analysts anticipate that Purple Biotech Ltd will post -0.83 EPS for the current year.

Hedge Funds Weigh In On Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. Two Sigma Securities LLC purchased a new position in Purple Biotech Ltd (NASDAQ:PPBT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,374 shares of the company’s stock, valued at approximately $72,000. Two Sigma Securities LLC owned approximately 1.16% of Purple Biotech at the end of the most recent quarter. 9.64% of the stock is currently owned by institutional investors.

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.