Short Interest in Purple Biotech Ltd (NASDAQ:PPBT) Decreases By 29.1%

Purple Biotech Ltd (NASDAQ:PPBT) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 100,400 shares, a decrease of 29.1% from the December 31st total of 141,600 shares. Approximately 3.9% of the company’s stock are short sold. Based on an average daily trading volume, of 901,000 shares, the days-to-cover ratio is presently 0.1 days.

Purple Biotech Trading Down 3.0 %

Shares of PPBT opened at $3.26 on Friday. Purple Biotech has a 12 month low of $2.00 and a 12 month high of $20.60. The company’s fifty day simple moving average is $3.93.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Purple Biotech in a research note on Friday, November 15th.

Institutional Investors Weigh In On Purple Biotech

A hedge fund recently bought a new stake in Purple Biotech stock. Kingswood Wealth Advisors LLC purchased a new stake in shares of Purple Biotech Ltd (NASDAQ:PPBT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.