Purple Biotech (NASDAQ:PPBT) Trading Down 2.1% – Time to Sell?

Purple Biotech Ltd (NASDAQ:PPBT)’s share price fell 2.1% during mid-day trading on Thursday . The company traded as low as $4.28 and last traded at $4.59. 140,696 shares were traded during mid-day trading, a decline of 41% from the average session volume of 240,351 shares. The stock had previously closed at $4.69.

Wall Street Analysts Forecast Growth

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

Purple Biotech Trading Down 1.7 %

The company has a 50-day simple moving average of $3.61. The firm has a market capitalization of $6.00 million, a PE ratio of -0.51 and a beta of 1.12.

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.