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

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

Purple Biotech Stock Down 3.2 %

The firm has a market capitalization of $3.58 million, a P/E ratio of -0.31 and a beta of 0.95. The company has a 50 day moving average of $3.02.

Purple Biotech (NASDAQ:PPBT) last released its earnings results on Monday, March 10th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). On average, sell-side analysts predict that Purple Biotech Ltd will post -0.83 EPS for the current year.

Institutional Investors Weigh In On Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Kingswood Wealth Advisors LLC purchased a new stake in Purple Biotech Ltd (NASDAQ:PPBT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 33,594 shares of the company’s stock, valued at approximately $158,000. Kingswood Wealth Advisors LLC owned about 2.53% of Purple Biotech at the end of the most recent reporting period. 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.