Purple Biotech (NASDAQ:PPBT) Shares Scheduled to Reverse Split on Monday, March 2nd

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) shares are set to reverse split on the morning of Monday, March 2nd. The 1-10 reverse split was announced on Wednesday, February 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, March 1st.

Purple Biotech Price Performance

PPBT opened at $0.59 on Wednesday. The firm has a market cap of $7.52 million, a PE ratio of -1.83 and a beta of 0.66. The stock has a 50-day moving average price of $0.66 and a 200-day moving average price of $0.92. Purple Biotech has a 1 year low of $0.53 and a 1 year high of $3.48.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PPBT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Purple Biotech in a research report on Monday, December 29th. Wall Street Zen downgraded 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 MarketBeat, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Purple Biotech

An institutional investor recently bought a new position in Purple Biotech stock. SmartHarvest Portfolios LLC purchased a new position in Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 47,454 shares of the company’s stock, valued at approximately $31,000. SmartHarvest Portfolios LLC owned about 0.37% of Purple Biotech at the end of the most recent reporting period. 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.