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

Purple Biotech Ltd (NASDAQ:PPBT)’s stock price traded down 3.2% during mid-day trading on Monday . The company traded as low as $2.65 and last traded at $2.69. 7,062 shares traded hands during 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 Down 3.2 %

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

Purple Biotech (NASDAQ:PPBT) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). As a group, sell-side analysts expect that Purple Biotech Ltd will post -0.83 EPS for the current fiscal year.

Institutional Trading of Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Kingswood Wealth Advisors LLC purchased a new position in Purple Biotech Ltd (NASDAQ:PPBT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,594 shares of the company’s stock, valued at approximately $158,000. Kingswood Wealth Advisors LLC owned 2.53% of Purple Biotech as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 9.64% of the company’s stock.

About Purple Biotech

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.