Purple Biotech (PPBT) to Release Quarterly Earnings on Wednesday

Purple Biotech (NASDAQ:PPBT) is anticipated to post its results before the market opens on Wednesday, August 5th. Analysts expect Purple Biotech to post earnings of ($0.98) per share for the quarter.

Purple Biotech (NASDAQ:PPBT) last issued its earnings results on Saturday, May 16th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.29. On average, analysts expect Purple Biotech to post $-5 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Purple Biotech Stock Performance

NASDAQ PPBT opened at $1.40 on Monday. The firm has a market capitalization of $1.30 million, a P/E ratio of -0.07 and a beta of 0.67. The firm’s fifty day moving average price is $1.93 and its two-hundred day moving average price is $3.78. Purple Biotech has a 1 year low of $1.33 and a 1 year high of $24.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, July 16th. Zacks Research raised Purple Biotech from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.00.

Hedge Funds Weigh In On Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Virtu Financial LLC purchased a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned about 0.38% of Purple Biotech at the end of the most recent quarter. Hedge funds and other institutional investors 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.