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

Wall Street Zen downgraded shares of Purple Biotech (NASDAQ:PPBT) to a strong sell rating in a research note released on Friday.

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

Purple Biotech Price Performance

Purple Biotech stock opened at $0.80 on Friday. The firm has a market capitalization of $10.28 million, a price-to-earnings ratio of -1.90 and a beta of 0.64. The company’s 50 day simple moving average is $0.69 and its 200 day simple moving average is $1.63. Purple Biotech has a fifty-two week low of $0.53 and a fifty-two week high of $13.95.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Purple Biotech stock. Virtu Financial LLC acquired a new stake in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the 3rd quarter, according to its most recent disclosure with the SEC. 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. 9.64% of the stock is 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.