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 changed hands during mid-day 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 Up 1.5 %

The firm has a market cap of $3.57 million, a P/E ratio of -0.30 and a beta of 0.95. The stock has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $4.72.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Purple Biotech stock. Kingswood Wealth Advisors LLC purchased a new position in shares of Purple Biotech Ltd (NASDAQ:PPBT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 33,594 shares of the company’s stock, valued at approximately $158,000. Kingswood Wealth Advisors LLC owned 2.53% of Purple Biotech at the end of the most recent quarter. 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.