Purple Biotech Ltd (NASDAQ:PPBT) Short Interest Update

Purple Biotech Ltd (NASDAQ:PPBT) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 70,300 shares, an increase of 103.2% from the November 15th total of 34,600 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average trading volume of 868,300 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $33.00 price target on shares of Purple Biotech in a report on Friday, November 15th.

Purple Biotech Trading Down 4.5 %

PPBT stock traded down $0.18 during trading on Thursday, hitting $3.84. 170,591 shares of the company traded hands, compared to its average volume of 244,037. The stock’s 50-day moving average is $3.74. The firm has a market capitalization of $5.11 million, a P/E ratio of -0.42 and a beta of 1.12. Purple Biotech has a 1 year low of $2.00 and a 1 year high of $20.60.

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.