Purple Biotech (NASDAQ:PPBT) Stock Price Down 3% – Here’s What Happened

Shares of Purple Biotech Ltd (NASDAQ:PPBT) were down 3% during trading on Tuesday . The stock traded as low as $2.65 and last traded at $2.88. Approximately 36,048 shares were traded during mid-day trading, an increase of 103% from the average daily volume of 17,731 shares. The stock had previously closed at $2.97.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $200.00 price target on shares of Purple Biotech in a report on Thursday, July 11th.

Purple Biotech Stock Up 1.4 %

The firm has a market cap of $3.75 million, a P/E ratio of -0.21 and a beta of 1.11.

Purple Biotech (NASDAQ:PPBT) last posted its quarterly earnings data on Friday, August 16th. The company reported ($1.60) EPS for the quarter, beating the consensus estimate of ($2.60) by $1.00. As a group, research analysts predict that Purple Biotech Ltd will post -6.42 earnings per share for the current fiscal year.

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.